Date
20 August 2017

Anbang spends 2.9 bln yuan on Minsheng Banking, website says

Anbang Property & Casualty Insurance Co. Ltd. is understood to have bought 347 million shares in China Minsheng Banking Corp., Ltd. (01988.HK, 600016.CN) for 2.9 billion yuan (US$477.71 million) on the Shanghai Stock Exchange Thursday, news website NetEase.com reported Thursday. The shares bought in two batches at an average price of 8.35 yuan per share, a premium of 0.8 percent over Thursday’s closing price of 8.28 yuan. Anbang increased its stake in China Merchants Bank Co. Ltd. (03968.HK, 600036.CN) by 1.13 billion A shares Monday at a 10.73 percent premium, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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