
In March 2009, HSBC PLC strengthened its finances by making a preemptive rights offering of new equity. The bank quickly raised $18.5 billion dollars.
Unlike Citibank, Bank of America, and other giant US banks, HSBC did not have to sell its soul to the government to stay in business.
HSBC had the good fortune to be headquartered in the UK and to have much of its investor base in Europe and other countries where preemptive rights are the law and the customary way to raise capital.










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