Ping An Insurance Company of China (HK:2318) has released an update.
Ping An Insurance and its affiliates, following a special dividend election under Lufax’s Scrip Dividend Scheme, will see their shareholding in Lufax rise to approximately 56.82%, making Lufax an indirect non-wholly-owned subsidiary and consolidating its financials into Ping An Group. Consequently, mandatory unconditional cash offers to acquire all issued Lufax shares and options will be triggered, with Morgan Stanley executing these offers on behalf of the Joint Offerors. This announcement serves as a notice and does not constitute an offer to acquire securities or a solicitation of any vote or approval.
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