Summary by Futu AI
Lufax Holding Ltd, a subsidiary of Ping An Insurance, announced on August 26, 2024 that its mandatory unconditional cash offer has met all the preconditions, including the approval of the Listing Committee for the listing and trading of new Lufax shares, and the completion of the report to the National Development and Reform Commission on overseas investment projects. The offer, made by Morgan Stanley Asia Limited on behalf of the Consortium, aims to acquire all issued Lufax shares and American Depositary Shares and cancel all unvested Lufax options. The Consortium and the Lufax Board of Directors plan to combine the offer document with the offeree board circular into a comprehensive document, which is expected to be sent out on or before August 30, 2024. The directors of Ping An Insurance (Group) Co., Ltd., Atek Technology Co., Ltd. and Ping An Overseas (Holdings) Co., Ltd. take responsibility for the accuracy of this joint announcement and confirm that the contents of the announcement have been carefully considered and there is no omission.