Dec 9 (Reuters) - HSBC Holdings Plc is consideringthe flotation of up to 30 percent of its British retail andcommercial banking arm, the Financial Times reported, a movethat would help it cope with planned new rules that demand thatBritish banks ringfence their retail arms.
Citing three people familiar with the project, the FT saidthe plan was at an early stage but the matter had been discussedwith investors and informally at board level.
The paper added that investors estimate such a businesscould float with a market capitalisation of about 20 billionpounds ($32.7 billion). ()
Representatives for HSBC could not be reached for commentlate on Sunday.
The British government said in October that it wouldaccelerate the process of splitting up any bank that tries tocircumvent new rules designed to ringfence their retailoperations from riskier investment banking activities.