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) $ 97,149.03 0.80%
ethereum
Ethereum (ETH) $ 2,669.20 1.13%
xrp
XRP (XRP) $ 2.49 4.97%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 205.47 7.02%
bnb
BNB (BNB) $ 616.89 6.85%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.257771 4.70%
cardano
Cardano (ADA) $ 0.708968 1.86%
staked-ether
Lido Staked Ether (STETH) $ 2,667.16 1.13%
tron
TRON (TRX) $ 0.233641 1.90%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,959.98 0.79%
chainlink
Chainlink (LINK) $ 18.75 3.25%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,174.81 0.89%
avalanche-2
Avalanche (AVAX) $ 25.06 3.63%
stellar
Stellar (XLM) $ 0.334561 3.41%
sui
Sui (SUI) $ 3.13 6.37%
shiba-inu
Shiba Inu (SHIB) $ 0.000016 7.68%
the-open-network
Toncoin (TON) $ 3.80 2.24%
hedera-hashgraph
Hedera (HBAR) $ 0.239827 4.71%
leo-token
LEO Token (LEO) $ 9.90 1.36%
usds
USDS (USDS) $ 0.999226 0.08%
litecoin
Litecoin (LTC) $ 106.98 3.09%
hyperliquid
Hyperliquid (HYPE) $ 23.77 4.82%
bitget-token
Bitget Token (BGB) $ 6.49 0.11%
weth
WETH (WETH) $ 2,666.34 1.05%
polkadot
Polkadot (DOT) $ 4.76 4.84%
bitcoin-cash
Bitcoin Cash (BCH) $ 326.80 3.13%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
mantra-dao
MANTRA (OM) $ 6.06 2.66%
uniswap
Uniswap (UNI) $ 9.20 3.34%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,825.21 1.12%
ondo-finance
Ondo (ONDO) $ 1.37 0.84%
pepe
Pepe (PEPE) $ 0.00001 7.07%
monero
Monero (XMR) $ 217.81 3.50%
near
NEAR Protocol (NEAR) $ 3.38 6.60%
whitebit
WhiteBIT Coin (WBT) $ 27.33 0.24%
aave
Aave (AAVE) $ 249.32 5.67%
mantle
Mantle (MNT) $ 1.07 0.50%
official-trump
Official Trump (TRUMP) $ 17.71 8.20%
dai
Dai (DAI) $ 1.00 0.01%
internet-computer
Internet Computer (ICP) $ 7.09 5.85%
aptos
Aptos (APT) $ 5.91 5.19%
susds
sUSDS (SUSDS) $ 1.04 0.19%
ethereum-classic
Ethereum Classic (ETC) $ 20.30 2.59%
bittensor
Bittensor (TAO) $ 364.91 12.89%
okb
OKB (OKB) $ 48.60 3.79%
gatechain-token
Gate (GT) $ 21.59 2.97%
vechain
VeChain (VET) $ 0.033466 3.72%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.313607 4.83%