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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Hsbc Holdings Plc | LSE:HSBA | London | Ordinary Share | GB0005405286 | ORD $0.50 (UK REG) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 11.60 | 1.41% | 835.80 | 833.80 | 833.90 | 834.60 | 823.70 | 825.40 | 19,830,487 | 16:35:23 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Offices-bank Holding Company | 65.91B | 23.53B | 1.3112 | 26.30 | 147.92B |
From Jan 2020 to Jan 2025
By Fiona Law
HONG KONG--HSBC Holdings PLC (HBC) said Wednesday it is selling its entire stake in Ping An Insurance (Group) Co. of China Ltd. (2318.HK) to Thailand's Charoen Pokphand Group for HK$72.74 billion (US$9.39 billion).
The U.K.-based lender plans to sell its 15.57% stake in China's second-largest life insurer after China Life Insurance Co. to wholly owned units the Thai conglomerate, HSBC said in a statement.
The sales price, which equates to HK$59 per Ping An share, will be funded by cash and a loan facility from China Development Bank Corp.'s Hong Kong branch, HSBC said. The sales price represents a 2% premium to Ping An's closing share price of HK$57.65 in Hong Kong on Tuesday.
"This transaction represents further progress in the execution of the group's strategy," HSBC Chief Executive Stuart Gulliver said in the statement. "China remains a key market for the group and we will strengthen our focus on growing our own operations and building on our long-term strategic banking partnership with [Bank of Communications Co.]"
Write to Fiona Law at fiona.law@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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