Deals
Top HSBC Shareholder Ping An Exploring Ways to Cut $13 Billion Stake
- Internal team at insurer is considering various options
- Ping An unsuccessfully pushed for HSBC to separate Asia arm
The Ping An International Financial Center in Beijing.
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Ping An Insurance Group Co. is weighing options that would allow it to reduce its 8% stake in HSBC Holdings Plc, according to people familiar with the matter.
One option an internal team at the Chinese insurance giant is considering is further share sales, similar to the $50 million sale it disclosed last week, as it seeks to reduce its $13.3 billion position in Europe’s largest lender, the people said, declining to be identified as the deliberations are private.