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HSBC-Backed Hang Seng To Sell $2B Stake In Chinese Bank

By Igor Kossov (February 10, 2015, 2:37 PM EST) -- HSBC Group's Hang Seng Bank said Tuesday that it will sell up to a 5 percent stake worth 12.7 billion yuan (about $2 billion) in China's Industrial Bank Co. Ltd. to institutional investors in order to shore up its capital for regulators and support future business expansion....

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