Ping An adds to growing dim sum market

Ping An successfully prices its debut Rmb2 billion dim sum bond. But as recent deals show, investors are pushing back on pricing.

Ping An adds to growing dim sum market
Peter Ma, chairman and CEO of Ping An Insurance, speaking at the companies' annual results announcement in March (AFP)

Hong Kong’s dim sum bond issuance continues to grow despite volatile markets, with Ping An Insurance becoming the latest borrower to raise renminbi funding in the city after closing its debut bond on Tuesday.

Its parent Ping An Group is China’s leading financial services company, serving insurance, banking and investment needs. The group is 16.13% owned by HSBC, which acted as a sole bookrunner on the bond. The Shenzhen government owns 6.3%.

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