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Ping An Insurance (Group) Company of China, Ltd. (2318.HK)

HKSE - HKSE Delayed price. Currency in HKD
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43.700+0.700 (+1.63%)
As of 01:02PM HKT. Market open.
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  • Bloomberg

    Top HSBC Shareholder Ping An Exploring Ways to Cut $13 Billion Stake

    (Bloomberg) -- Ping An Insurance Group Co. is weighing options that would allow it to reduce its 8% stake in HSBC Holdings Plc, according to people familiar with the matter. Most Read from BloombergUS Inflation Data Was Accidentally Released 30 Minutes EarlyWith a BlackRock CEO, $9 Trillion Vanguard Braces for TurbulencePutin and Xi Vow to Step Up Fight to Counter US ‘Containment’Jamie Dimon Sees ‘Lot of Inflationary Forces in Front of Us’Dow Average Touches 40,000 Before Pulling Back: Markets W

  • Reuters

    HSBC's biggest investor Ping An mulls options to cut stake, Bloomberg News reports

    The Chinese insurance giant, which emerged as a major shareholder in HSBC in 2017 through its asset management arm and has had a tumultuous relationship with the lender in the recent past, has been offloading shares in the London-headquartered banking group. It has sold HSBC shares worth $50 million so far this month and the report adds Ping An is considering selling more as it looks to cut its $13.3 billion stake in the lender. Ping An had been pushing the lender to implement a slew of reforms, including spinning off its Asia business.

  • Reuters

    Ping An votes against reappointment of HSBC CEO as director, source says

    (Reuters) -China's Ping An Insurance Group Co the biggest Asian investor in HSBC PLC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move. Quinn, who has announced he will step down as chief executive once a successor is appointed, last year defeated Ping An's long campaign to get HSBC to spin off its Asia business. Europe's biggest bank had faced proposals submitted by Hong Kong-based individual investor Ken Lui and backed by its biggest Asian shareholder Ping An to consider a radical restructuring and to boost its dividends.