The Chinese group Ping An Insurance [4], one of HSBC's largest shareholders with 8.4% of the voting rights, is calling on the British bank to carry out a major restructuring of its activities.
The call made by the insurer and other shareholders revolves around two points, namely the low dividends and the establishment of an independent Asian entity listed in Hong Kong.
The protesters believe that a structural reform would allow the company to create value and increase dividends, especially since most of its profits are generated in Asia.
However, the banking group is opposed to Ping An's proposal, claiming that its current strategy is still the best course of action. A 75% vote is required for the proposal made by Ping An and its supporters to be adopted.