Ping An Insurance Company of China (HK:2318) has released an update.
Ping An Insurance Group has announced the proposed issue of $3.5 billion in convertible bonds due 2029, aiming to support the company’s core business growth, healthcare, and elderly care initiatives, and general corporate purposes. The bonds, which are convertible into approximately 625 million H Shares, will represent about 8.39% of the existing issued H Shares upon full conversion. The offering and subsequent conversion shares will not require further shareholder approval, with the company planning to list the bonds and conversion shares on the Hong Kong Stock Exchange.
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