HSBC agrees to sell Ping An stake to Thai conglomerate
HSBC is to sell its 15.57% stake in Ping An Insurance to the Charoen Pokphand Group, a Thai multi-national conglomerate with core businesses in agro-industry, food, retail and telecommunications.
The shares will be sold to wholly-owned subsidiaries of Charoen Pokphand Group Company for HK$72,736m (approximately US$9,385m), equivalent to HK$59.00 per share, payable in cash.
HSBC's audited
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