Ping An Insurance Proposes HK$11.765 Billion Convertible Bond Issue

Ping An Insurance Company of China ( (HK:2318) ) has provided an update.

Ping An Insurance Company of China announced the proposed issuance of HK$11.765 billion zero-coupon convertible bonds due 2030. The proceeds from the bonds will be used to enhance the company’s core business, strengthen its capital position, and support new strategic initiatives in healthcare and elderly care. The bonds are convertible into H Shares and will be listed on the Frankfurt Stock Exchange and the Hong Kong Stock Exchange, subject to certain conditions.

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 major player in the insurance industry, offering a range of financial services including insurance, banking, and asset management. The company is focused on expanding its market presence in the healthcare and elderly care sectors.

Average Trading Volume: 51,521,004

Technical Sentiment Signal: Buy

Current Market Cap: HK$960.4B

Find detailed analytics on 2318 stock on TipRanks’ Stock Analysis page.