Ping An Insurance Group explores options to reduce its 8% stake in HSBC, worth $13.3bn.
Ping An Insurance Group is considering ways to reduce its 8% stake in HSBC Holdings, worth $13.3 billion. Possible options include further share sales, similar to the $50 million sale it announced last week, and a sovereign wealth fund or ultra-rich investor in the Middle East taking a significant stake. Ping An's openness to reducing its stake reflects its desire to lock in profits from the investment.
May 16, 2024
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