Lufax Holding Ltd, a company listed on the New York Stock Exchange under the ticker LU, has announced the closure of mandatory unconditional cash offers by Morgan Stanley on behalf of joint offerors, which were triggered by the election of a Lufax special dividend. The offers aimed to acquire all issued Lufax shares and American Depositary Shares (ADSs), including those to be issued under Lufax's 2014 Share Incentive Plan and the 2019 Performance Share Unit Plan, excluding those already owned by the offeror group, and to cancel all outstanding Lufax options. The offers closed on October 28, 2024, without further revisions or extensions. The results indicated minimal shareholder uptake, with valid acceptances for approximately 0.01% of the total issued Lufax shares. The joint offerors...Show More

Lufax Holding Ltd, a company listed on the New York Stock Exchange under the ticker LU, has announced the closure of mandatory unconditional cash offers by Morgan Stanley on behalf of joint offerors, which were triggered by the election of a Lufax special dividend. The offers aimed to acquire all issued Lufax shares and American Depositary Shares (ADSs), including those to be issued under Lufax's 2014 Share Incentive Plan and the 2019 Performance Share Unit Plan, excluding those already owned by the offeror group, and to cancel all outstanding Lufax options. The offers closed on October 28, 2024, without further revisions or extensions. The results indicated minimal shareholder uptake, with valid acceptances for approximately 0.01% of the total issued Lufax shares. The joint offerors, primarily consisting of entities related to Ping An Insurance (Group) Company of China, Ltd., now hold approximately 56.82% of Lufax's total issued shares. Despite the offers, Lufax maintains compliance with the NYSE's listing conditions and continues to meet the Hong Kong Stock Exchange's minimum public float requirement of 25%. The settlement of the consideration for the accepted offers is expected to be completed by October 30, 2024.