HSBC in China

HSBC in talks to sell Ping An stake

HSBC is considering selling its $9 billion stake in Ping An Insurance.
<div style="text-align: left;">
HSBC has been invested in Ping An since 2002
</div>
<div style="text-align: left;"> HSBC has been invested in Ping An since 2002 </div>

HSBC is considering selling its stake in Ping An Insurance, the bank’s second-biggest investment in China.

The British bank’s 15.57% stake in China’s second-biggest insurer is valued at more than $9 billion almost three times the $3.5 billion that HSBC is aiming to save by 2014.

It has been widely speculated that the bank plans to sell all of its 40% stake in Ping An’s Hong Kong-listed shares, which represents 15% of its total stake in the Chinese insurer.

HSBC issued a statement yesterday saying it has “from time to time received approaches regarding its shareholding and confirms that it is in discussions which...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222