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Ping An Insurance Company of China ( (HK:2318) ) has issued an update.
Ping An Insurance Company of China has successfully completed the issuance of HK$11.765 billion zero-coupon convertible bonds due in 2030. The proceeds from this issuance will be used to bolster the company’s core business, enhance its capital position, and support new strategic initiatives in healthcare and elderly care. The company has also secured approval for listing the conversion shares on the Hong Kong Stock Exchange and plans to list the bonds on the Frankfurt Stock Exchange. With a scattered shareholding structure and no controlling shareholders, Ping An does not anticipate any change of control events that would trigger adjustments to the conversion price.
The most recent analyst rating on (HK:2318) stock is a Buy with a HK$55.50 price target. To see the full list of analyst forecasts on Ping An Insurance Company of China stock, see the HK:2318 Stock Forecast page.
More about Ping An Insurance Company of China
Ping An Insurance Company of China is a leading financial services conglomerate in China, primarily engaged in insurance, banking, and financial services. The company focuses on leveraging technology to enhance its offerings in the healthcare and elderly care sectors, aiming to strengthen its market position and expand its strategic initiatives.
Average Trading Volume: 51,537,774
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$977.4B
Learn more about 2318 stock on TipRanks’ Stock Analysis page.