21 August 2019

CP Group pledges some Ping An shares, filing says

Ping An Insurance (Group) Co. of China Ltd. (02318.HK, 601318.CN) said in a regulatory filing Tuesday that Thailand’s Charoen Pokphand Group Co. Ltd. (CP Group), the largest shareholder in Ping An with 17.33 percent stake, has pledged a total of 1.182 billion shares of the Chinese insurer to UBS AG’s London branch to secure some financing. The move is related to the Thai group’s overall financial plan and its future business opportunities, and does not reflect any shift in the group’s strategic objective to be long-term shareholder of Ping An, it said.

– Contact HKEJ at [email protected]



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