1330 GMT - HSBC shouldn't have a hit on its capital or dividend from the recapitalization plan of China's Bank of Communications, in which the global bank holds a 19% stake, Bank of America says in a research note. A dilution loss of between $1 billion and $2 billion is expected for HSBC if the bank, known as BoCom, raises between 100 billion and 200 billion yuan at multiples around 20% to 30% above its last close, in line with the Chinese lender's previous guidance, analysts write. This would be recorded as a notable item and wouldn't affect underlying profit, they say. It would only dilute shared profit marginally, they add. This scenario assumes that HSBC doesn't participate in the deal. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
March 25, 2025 09:30 ET (13:30 GMT)
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