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The London-based bank is yet to file a formal IPO application in Jakarta but the talks for a share sale are at an advanced stage, according to the .
Indonesia’s Financial Services Authority declined to comment on the report, while HSBC did not immediately respond to Reuters’ request for a comment.
The IPO news comes a month after HSBC’s largest shareholder, Chinese insurance giant Ping An, called for a spin off of the bank’s Asian operations in a move to boost returns.
