HSBC Holdings announced a plan to privatise its Hang Seng Bank subsidiary, drawing the curtains on half a century of the unit’s publicly traded status in an unexpected move to simplify its structure amid worsening real estate loans in Hong Kong. The London-based bank would buy all outstanding Hang Seng Bank shares for HK$155 each in cash, or a premium of 30 per cent over the stock’s Wednesday closing price of HK$119, according to a statement to the Hong Kong exchange on Thursday. The Hang Seng...