Ping An halts trading ahead of IPO offer

HONG KONG: Shares in Ping An Insurance Group Co of China Ltd were halted yesterday, ahead of a planned Hong Kong share offering worth up to US$5 billion (RM16.75 billion). China’s securities regulator said on Sunday it had given Ping An the nod to sell up to 625.9 million shares, which would be valued at HK$38.5 billion (RM16.62 billion) at the stock’s last traded price of HK$61.50. Ping An, China’s second-largest insurer by market value, did not specify the reason for requesting the trading halt, saying only in a filing that it would be making an announcement. Reuters

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