Ping An Insurance Company of China (HK:2318) has released an update.
Ping An Insurance Company of China has announced mandatory unconditional cash offers to acquire all issued shares and ADSs of Lufax Holding Ltd, triggered by the election of a special dividend. The move, facilitated by Morgan Stanley, is part of a strategic decision by the Joint Offerors, who have increased their stake in Lufax from 41.4% to 56.8%. This acquisition aims to strengthen their long-term investment in Lufax’s vision and strategy.
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