Lates News

According to information disclosed by the Hong Kong Stock Exchange, Minsheng Life Insurance Co., Ltd. recently purchased 1 million H shares of Zhejiang Commercial Bank on the exchange at an average price of HKD 2.77 per share, with a total investment of about HKD 2.77 million, reaching 5% of the bank's H shares. Based on the rules of the Hong Kong stock market, this triggered a mandatory takeover bid. This marks Zhejiang Commercial Bank as the seventh listed bank to have received a takeover bid from an insurance company this year. Prior to this takeover bid, Minsheng Life Insurance had held 295 million H shares of Zhejiang Commercial Bank, accounting for 4.98% of the bank's issued H shares. (Securities Daily)