Stock Market News

China’s Ping An eyes up to $5 billion convertible bond, sources say

2024.07.09 20:27

By Scott Murdoch

(Reuters) – China’s Ping An Insurance is considering issuing a convertible bond worth up to $5 billion, according to two sources with direct knowledge of the matter.

The bond could raise between $2 billion and $5 billion, according to one of the sources. A deal is expected in the next few weeks, the sources added.

They could not be named discussing confidential information.

In a Hong Kong Stock Exchange filing on Wednesday, Ping An said it had received shareholder approval to issue debt at any time in the next three years.

“The company will decide on any financing within the scope of the authorization granted at the annual general meeting in accordance with the principle of maximizing shareholders’ interests and based on business development and capital plan,” it said in a regulatory filing.

It did not say whether a convertible bond was currently under consideration.

© Reuters. FILE PHOTO: The sign of Ping An Insurance Group is pictured on the Ping An International Financial Center in Beijing, China November 8, 2023. REUTERS/Tingshu Wang/File Photo

A convertible bond issue by Ping An would extend the recent rush of convertibles issued by Chinese corporates, led by Alibaba (NYSE:) Group, which raised $5 billion in May.

Bloomberg News first reported Ping An’s plans to issue a convertible bond deal on Tuesday.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 84,377.61 0.00%
ethereum
Ethereum (ETH) $ 1,976.08 0.07%
tether
Tether (USDT) $ 0.999881 0.01%
xrp
XRP (XRP) $ 2.40 1.51%
bnb
BNB (BNB) $ 635.60 0.72%
solana
Solana (SOL) $ 129.32 1.30%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.712594 0.82%
dogecoin
Dogecoin (DOGE) $ 0.169117 0.00%
tron
TRON (TRX) $ 0.234381 0.60%
staked-ether
Lido Staked Ether (STETH) $ 1,975.38 0.09%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,303.59 0.08%
leo-token
LEO Token (LEO) $ 9.77 0.21%
chainlink
Chainlink (LINK) $ 14.10 0.68%
the-open-network
Toncoin (TON) $ 3.60 2.43%
stellar
Stellar (XLM) $ 0.279224 0.97%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,367.89 0.03%
usds
USDS (USDS) $ 1.00 0.05%
avalanche-2
Avalanche (AVAX) $ 19.28 2.98%
hedera-hashgraph
Hedera (HBAR) $ 0.1865 1.87%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.56%
sui
Sui (SUI) $ 2.28 3.58%
litecoin
Litecoin (LTC) $ 92.26 0.82%
polkadot
Polkadot (DOT) $ 4.55 4.40%
pi-network
Pi Network (PI) $ 0.997732 8.18%
bitcoin-cash
Bitcoin Cash (BCH) $ 328.05 1.95%
mantra-dao
MANTRA (OM) $ 6.28 5.46%
weth
WETH (WETH) $ 1,976.63 0.01%
bitget-token
Bitget Token (BGB) $ 4.66 0.86%
ethena-usde
Ethena USDe (USDE) $ 0.999257 0.08%
hyperliquid
Hyperliquid (HYPE) $ 15.54 8.48%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.05%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,101.60 0.03%
whitebit
WhiteBIT Coin (WBT) $ 28.56 0.02%
uniswap
Uniswap (UNI) $ 6.79 1.30%
monero
Monero (XMR) $ 213.87 1.92%
aptos
Aptos (APT) $ 5.67 0.96%
susds
sUSDS (SUSDS) $ 1.04 0.06%
near
NEAR Protocol (NEAR) $ 2.75 0.40%
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.16 0.04%
dai
Dai (DAI) $ 0.999723 0.02%
okb
OKB (OKB) $ 52.38 1.52%
pepe
Pepe (PEPE) $ 0.000007 3.62%
gatechain-token
Gate (GT) $ 22.83 0.49%
internet-computer
Internet Computer (ICP) $ 5.72 0.26%
aave
Aave (AAVE) $ 179.41 1.56%
ethereum-classic
Ethereum Classic (ETC) $ 17.74 0.50%
ondo-finance
Ondo (ONDO) $ 0.833545 1.58%
tokenize-xchange
Tokenize Xchange (TKX) $ 32.97 2.78%
mantle
Mantle (MNT) $ 0.782405 0.49%