Ping An’s Strategic Move to Acquire Lufax Shares

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

Ping An Insurance Company of China and its affiliates have announced mandatory unconditional cash offers to acquire all issued Lufax shares and ADSs not already owned by the Offeror Group, as well as to cancel all outstanding Lufax options. This move comes after the election of a special dividend by Lufax and the despatch of a Composite Document to shareholders, detailing the terms and expected timeline of the offers. The announcement emphasizes that this is not an invitation to purchase securities and is subject to the laws of relevant jurisdictions.

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