Ping An sees good response for A-share CB

Existing shareholders take up 56.4% of the $4.2 billion deal and the Chinese insurer receives more than $50 billion of institutional demand for the rest.

Ping An sees good response for A-share CB

Ping An Insurance Group received more than Rmb300 billion of demand from institutional investors for its Rmb26 billion $4.2 billion A-share convertible bond that was on offer at the end of last week, showing the pent-up demand for high-quality paper.

Ping An’s A-share holders were first in line to subscribe to the CB and took about 56.4% of the deal, according to a banker quoting a Chinese-language announcement filed by the company to the Shanghai...

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