Newbridge sells $1.25 billion stake in Ping An

The private equity firm monetises part of the Ping An stake it received last week as payment for its 4.7% holding in Shenzhen Development Bank.

A fund run by Newbridge Asia last night sold just over half the H-shares in Ping An Insurance Group that it received last week as payment for its 4.7% stake in Shenzhen Development Bank. Despite the somewhat challenging market environment right now and the large size of the offering, the deal was priced above the bottom of the range for a tight 4.6% discount and a total deal size of HK$9.7 billion $1.25 billion.

At that size, this...

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