Summary by Futu AI
On July 15, 2024, Ping An Insurance announced that it will issue $3.5 billion convertible bonds with an annual interest rate of 0.875% due in 2029. The bonds will be jointly coordinated by Morgan Stanley, J.P. Morgan, and Ping An Securities (Hong Kong) Limited as joint global coordinators, joint bookrunners, and joint lead managers. The bonds will be convertible into approximately 625,203,614 H shares at a conversion price of HKD 43.71 per share. Assuming full conversion, this will account for 8.39% of the company's existing issued H shares. The company plans to use the net proceeds for financial business development, medical and retirement new strategic business requirements, and general corporate purposes. The bonds and convertible shares will be listed on the Hong Kong Stock Exchange. The...Show More