Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Ping An Bank Raises $2.4 Billion From Sale of Shares to Parent

Ping An Insurance
Pedestrians walk past a Ping An Insurance (Group) Co. advertisement in Beijing. Photographer: Tomohiro Ohsumi/Bloomberg

Ping An Bank Co. raised 14.7 billion yuan ($2.4 billion) from a share sale to its parent company, strengthening its capital buffers with the largest private placement in a year on China’s domestic stock market.

Ping An Insurance Group Co. bought 1.32 billion shares, increasing its stake to 59 percent from 52 percent, including holdings by affiliates, the bank said in a statement to the Shenzhen Stock Exchange yesterday. The shares were priced at 11.17 yuan each, according to the statement, in line with a plan announced in September. That’s 4 percent less than yesterday’s closing price.

The sale helps Ping An boost its capital ratios as Chinese regulators push banks to strengthen their balance sheets, reflecting concern that slowing economic growth may lead to an increase in soured debt. Shares in the Shenzhen-based lender rose 22 percent last year, compared with a 6.8 percent decline in the benchmark Shanghai Composite Index.

China Everbright Bank Co. last month raised $3 billion to bolster its capital in Hong Kong’s largest first-time share sale of 2013. Industrial Bank Co. sold $3.8 billion of shares in a private placement in January 2013.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.