Ping An Gets Nod For Share Placement
Source: Xinhua |
August 8, 2009, Saturday
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Print Edition
Print Edition
SHAREHOLDERS of Ping An Insurance (Group) Co yesterday approved a private placement plan of its Hong Kong-listed shares to Newbridge Capital.
The country's second-largest insurer said 99.75 percent of its shareholders approved the company's provision of 299 million additional H-shares to United States-based Texas-Pacific Group's Asian arm Newbridge, the top shareholder in the Shenzhen Development Bank.
The H-share private placement serves as a share swap for the Shenzhen Bank shares bought by Ping An from Newbridge in June.
The country's second-largest insurer said 99.75 percent of its shareholders approved the company's provision of 299 million additional H-shares to United States-based Texas-Pacific Group's Asian arm Newbridge, the top shareholder in the Shenzhen Development Bank.
The H-share private placement serves as a share swap for the Shenzhen Bank shares bought by Ping An from Newbridge in June.
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