HSBC Says Bank of Communications Is Worth More Than $100 Billion
- HSBC values Bocom stake at more than twice the market price
- Lender recently carried out impairment test on the holding
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If HSBC Holdings Plc is right, one of China’s largest banks could be worth twice its current market value.
Bank of Communications Co., China’s sixth-largest lender by assets, has a market capitalization of just over $50 billion. HSBC, the second-largest shareholder of Bocom after the Chinese government, thinks the business is worth more than $100 billion, according to its latest corporate filing.