Ping An receives approval for A-share CB

The Chinese insurance company plans to sell up to $4.2 billion of six-year domestic convertible bonds.

Ping An receives approval for A-share CB

Ping An Insurance Group has received regulatory approval to issue up to Rmb26 billion $4.2 billion of domestic convertible bonds, according to an announcement on the Hong Kong stock exchange website on Thursday evening.

The company, listed both in Hong Kong and Shanghai, first announced plans for the CB in December 2011 so it has been a long wait. However, the timing of the approval is a bit surprising as observers hadn’t expected the insurer...

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