Ping An Asset Management, HSBC Holdings PLC's largest shareholder, will continue to hold its investment in the Asia-focussed lender, a source close to the Chinese fund manager said on Friday, after reports it was considering selling more shares.
Ping An last year had supported a shareholder motion to spin off HSBC's Asia business and establish fixed dividends. The motion was eventually defeated.
HSBC's , largest shareholder, China's Ping An Insurance , is mulling options to reduce its 8% stake in the Asia-focussed lender, Bloomberg News reported on Thursday citing people familiar with the matter.