Summary by Futu AI
Lufax Holding Ltd, a leading technology-empowered personal financial services platform in China, has announced the despatch of a Composite Document to its shareholders, which details mandatory unconditional cash offers by Morgan Stanley on behalf of the joint offerors. The offers, triggered by the election of a Lufax special dividend, aim to acquire all issued Lufax shares and American Depositary Shares (ADSs), including those to be issued under Lufax's 2014 Share Incentive Plan and 2019 Performance Share Unit Plan, excluding those already owned by the offeror group. Additionally, the offers include the cancellation of all outstanding Lufax options and arrangements concerning all unvested Lufax Performance Share Units (PSUs). The document was dispatched on September 27, 2024, following the satisfaction of all pre-conditions previously announced on July 3 and August 26, 2024. The offers are part of a broader strategic move by the company and are open for acceptance until October 28, 2024. Shareholders are advised to review the Composite Document and consider the independent financial adviser's recommendations before making any decisions regarding the offer.