News Column

PAB to Issue CNY30billion Preferred, Ordinary Shares

July 16, 2014

BEIJING, July 16, SinoCast -- Ping An Bank (PAB, SZSE: 000001) intended to issue not more than 200 million preferred shares to raise not more than CNY 20 billion (including CNY 20 billion) to supplement its tier 1 capital and 1.07 billion ordinary shares to not more than 10 shareholders to raise not more than CNY 10 billion to supplement its core tier 1 capital.

Ping An Asset Management promised to subscribe for 50% to 60% of totally-issued preferred shares this time in the same price and coupon rate as other investors.

Ping An Insurance (Group) Company Of China will subscribe for 40% to 50% of totally-issued ordinary shares.

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Source: Sinocast Banking & Credit Beat (China)

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