Lates News

The HKEX disclosure system shows that China Ping An Insurance (Group) Co., Ltd. (referred to as "China Ping An") recently increased its holdings of approximately 1.74 million shares of China Pacific Insurance (Group) Co., Ltd. H shares (referred to as "China Pacific H shares"). After the increase, China Ping An holds approximately 5.04% of the total share capital of China Pacific H shares. According to Hong Kong market rules, this triggers a mandatory takeover offer. China Ping An's takeover of China Pacific H shares also means that after a 6-year hiatus, there is again a case of an insurance company taking over a fellow industry player. Industry insiders believe that, on the one hand, insurance companies taking over fellow industry players indicates confidence in the industry's development; on the other hand, there are also financial considerations for insurance companies taking over. (Securities Daily)