On May 9, HSBC stake in SIF Oltenia dropped below 5%, following several deals on the secondary market, according to the stock exchange.
Under capital market laws, the holding threshold in the regional investment funds should not exceed 5%.
Wednesday, SIF Oltenia traded down 1.3% at RON1.1742 a share in Bucharest.
In the first quarter of the year, HSBC reported a profit before tax of $6.79 billion, down 20% from $8.43 billion in the corresponding period a year earlier. The group’s revenue fell 14% to RON15.8 billion.
On March 31, HSBC Holdings owned assets totaling $2,758 billion. (EUR1=RON4.4308)