HSBC sells stake in e-commerce company

RNS Number : 3550N

HSBC Holdings PLC

31 August 2011

 



HSBC SELLS STAKE IN E-COMMERCE COMPANY

The Hongkong and Shanghai Banking Corporation Limited has sold its 8.1% equity interest in e-commerce company, Tradelink Electronic Commerce Limited, to TAL Apparel Limited for a cash consideration of approximately US$10m.

The sale, which took place on 31 August 2011, represents the disposal of a non-core investment of HSBC.

Note to editors:

The Hongkong and Shanghai Banking Corporation Limited

The Hongkong and Shanghai Banking Corporation Limited is the founding and a principal member of the HSBC Group. HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,691bn at 30 June 2011, HSBC is one of the world's largest banking and financial services organisations.

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