Ping An sells remaining stake in Value Partners

Ping An raises $82 million from the sale of its entire 6% stake in the Hong Kong-listed fund manager, two months after its previous sell-down.

Ping An sells remaining stake in Value Partners

The asset management arm of Ping An Insurance has sold its remaining 6% stake in Hong Kong-listed Value Partners through a block trade, raising a total of HK$639.9 million $82 million. The deal was done at a 9% discount after the market closed last Thursday.

The timing seemed a bit odd, given that the Hong Kong market was closed on Friday to celebrate the anniversary of the handover. The share price was also...

To continue reading, please login or register for free

Click for more on: placement | block trade | fund manager | insurance | ubs

Print Edition

FinanceAsia Print Edition