Summary by Futu AI
Ping An Insurance (Stock Code: 2318) completed the issuance of a total of USD 3,500,000,000, 0.875% convertible bonds due in 2029 on July 22, 2024. The bond is expected to be listed on the Hong Kong Stock Exchange on July 23, 2024. Morgan Stanley and J.P. Morgan serve as joint global coordinators, joint bookrunners and joint lead managers, while Ping An Securities (Hong Kong) Limited is the joint lead manager. According to the announcement, the conversion price may be adjusted in the event of certain adjustment events or changes in control. Currently, due to the dispersed shareholding structure, there is no controlling shareholder or actual controller, and the possibility of a change in control is low. In addition, the company has the right to choose to settle the conversion rights in cash rather than issuing convertible shares. Any adjustments to the conversion price will be announced separately.