Ping An Becomes Second-Largest Shareholder in HSBC
China’s Ping An Insurance has acquired a 5% stake in HSBC Holdings, becoming the second-biggest shareholder of Europe’s largest bank, according to the insurer’s regulatory filing on Wednesday.
Ping An’s filing to the Hong Kong Stock Exchange indicates that Ping An’s asset management arm has bought more than 1 billion of HSBC’s Hong Kong listed shares as of Dec. 15 through the stock connect program that links the Hong Kong and mainland bourses.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas