Citi Gets Back Into Hong Kong Warrants Amid Volatility Spike
- U.S. bank joins Wall Street rivals in issuing warrants
- Citi’s products cover underlying stocks including Alibaba
Photographer: Daniel Acker/Bloomberg
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Citigroup Inc. is returning to Hong Kong’s equity warrants market after a five-year hiatus amid a jump in volatility and rising demand for derivatives.
After issuing 39 warrants initially, the U.S. bank has plans to add more products this year, including callable bull or bear contracts, according to an emailed statement. The warrants cover major underlying stocks listed in Hong Kong, including HSBC Holdings Plc, Tencent Holdings Ltd., and Alibaba Group Holding Ltd., the New York-based lender said. A Citi spokesperson declined to comment further.