HONG KONG: Ping An Insurance Group Co of China Ltd, Chinas second-largest insurer by market capitalisation, is planning to raise HK$36.8 billion (RM16.34 billion) in a private placement of its H-shares. The insurer will issue 594.056 million new H Shares at HK$62 per share to between six and 10 investors, it said in a filing to the Hong Kong stock exchange on Sunday evening. The placing price is at a discount of about 4.7 per cent to Fridays closing price of HK$65.05. Reuters
To continue reading the rest of the article, click here