Ping An Insurance Company of China (HK:2318) has released an update.
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Ping An Insurance Company of China has announced mandatory unconditional cash offers to acquire all issued shares and ADSs of Lufax Holding Ltd, triggered by the election of a special dividend. The move, facilitated by Morgan Stanley, is part of a strategic decision by the Joint Offerors, who have increased their stake in Lufax from 41.4% to 56.8%. This acquisition aims to strengthen their long-term investment in Lufax’s vision and strategy.
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