20 Ping An Poker Chip Manufacturer may place 2.99 bln H-shares with Newbridge Capital Ping An Poker Chip Manufacturer may place 2.99 bln H-shares with Newbridge Capital
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Ping An may place 2.99 bln H-shares with Newbridge CapitalPublished: 23 Jun 2009 23:28:00 PSTTop 5 News From ChinaKnowledge.comSiemens aims for RMB 20 bln in contracts from ChinaChina Shenhua to build coal-to-oil plant in Oct-2010BYD plans to release 5 new car models in H2Wuhan Iron and Steel eyes stake in Brazil's MMXHang Seng Index opens 45 points higher on WedJun. 24, 2009 (China Knowledge) - Ping An Insurance (Group) Co<601318><2318>, China's second-largest insurer, said on Tuesday that it will discuss a proposal of issuing 2.99 billion H-shares to private equity firm Newbridge Capital, the largest shareholder of Shenzhen Development Bank Co Ltd (SDB)<000001>, at a shareholder meeting on Aug. 7, sources reported.Ping An Insurance announced on Jun. 12 that it would spend RMB 22.13 billion raising its stake in SDB to 30% from 5%. The insurer will spend approximately RMB 10.68 billion to acquire up to 585 million new shares offered by SDB and will purchase 520 million SDB shares from Newbridge Capital.Pursuant to the agreement between Ping An Insurance and Newbridge Capital, the insurer can pay in cash or issue new H-shares to the latter to take over the 520 million SDB shares held by Newbridge Capital.Market analysts said that it is possible that Newbridge Capital will choose the share swap since Ping An has great potential.Copyright © 2009 http://www.chinaknowledge.com乳化机 滤油机 kitchen cabinets wholesale miniature bearings 弹簧 深圳搬家公司 上海翻译公司