Latest news with #PingAnInsurance
South China Morning Post
8 hours ago
- Business
- South China Morning Post
Grab to sell US$1.25 bln in convertible bonds to fund purchases as GoTo takeover stalls
Grab Holdings is planning a US$1.25 billion sale of bonds convertible into stock, partly to bulk up its war chest for acquisitions amid signs that talks to take over rival delivery-and-transport provider GoTo Group have stalled. Singapore-based Grab, whose app is ubiquitous in Southeast Asia for ride hailing and food delivery, will issue convertible bonds that mature on June 15, 2030, it said in a statement on Monday. The securities will carry a coupon of as much as 0.5 per cent a year, payable semiannually, according to terms of the deal seen by Bloomberg News. Grab joins the flurry of sales of bonds that can be swapped into stock by Asian companies this year. That is particularly been the case with Chinese firms as issuers from Baidu to Ping An Insurance Group of China announced sizeable deals in recent months. Aside from possible acquisitions, Grab said it plans some share buy-backs – the company has US$274 million remaining under its share-repurchase programme as of the end of March. The bonds will be redeemable, under certain conditions, from mid-2028. As for the GoTo acquisition, Grab on Monday signalled that it was halting or at least pausing a planned US$7 billion acquisition. The pair of ride-hailing and food-delivery companies have held on-and-off talks for years, but a combination never materialised, partly because of antitrust concerns likely to arise from combining the two dominant players in Southeast Asia. Grab's offering is the largest Asian convertible-bond deal denominated in US dollars since Ping An's US$3.5 billion deal in July 2024, and the biggest by a non-Chinese company since Korean chipmaker SK Hynix's US$1.7 billion issuance in 2023. Ping An last week also issued convertible bonds worth US$1.5 billion, denominated in Hong Kong dollars.
Business Times
6 days ago
- Business
- Business Times
Ping An Insurance raises US$1.5 billion from convertible bonds
[HONG KONG] Ping An Insurance (Group) of China has sold HK$11.8 billion (S$1.9 billion) in bonds that can be converted into shares listed in Hong Kong, marking the insurance giant's second such offering in under a year. The convertible bonds carry a zero coupon and are due in 2030, according to a company filing in Hong Kong on Wednesday (Jun 4) and earlier deal terms seen by Bloomberg News. The insurer said it would use the proceeds to develop its core business, support new initiatives in healthcare and elderly care, and strengthen its finances. Last year, Ping An Insurance sold US$3.5 billion in convertible bonds for a similar purpose, joining a wave of Chinese companies tapping the market to raise funds at lower rates than traditional debt. The latest fundraising comes after the insurer's profit fell 26 per cent in the first quarter, as a stock market decline and lower bond yields dented investment returns. Ping An Insurance's deal is the biggest convertible-bond issuance denominated in US dollars or Hong Kong dollars by a Chinese company this year, according to data compiled by Bloomberg. Streaming platform Bilibili raised US$690 million through the sale of convertibles last month, while data centre operator GDS Holdings raised US$550 million. Alongside the convertible bond offering, the company is also conducting a share placement to facilitate hedging for bond investors, known as a delta placement. The convertible bond's initial conversion price is of HK$55.02, reflecting a conversion premium of 21.5 per cent over the delta placement price of HK$45.28, terms of the deal show. The bonds will be convertible into about 213.8 million shares, representing roughly 2.9 per cent of Ping An Insurance's existing shares in Hong Kong and around 1.2 per cent of all issued shares, it said. Ping An Insurance's shares are listed in Hong Kong and Shanghai. Ping An Insurance is selling the bonds, which are denominated in Hong Kong dollars, through a so-called Regulation S offering, which excludes onshore US institutions from the deal and exempts the issuer from certain US regulatory filing obligations. The investor put date is on or about Jun 11, 2028, and there is a 90-day lockup. Morgan Stanley is the sole global coordinator and bookrunner. Ping An Securities (Hong Kong) is a joint lead manager. BLOOMBERG
Korea Herald
29-05-2025
- Business
- Korea Herald
Ping An's Mother's Needlework Public Welfare Program Showcased at London Craft Week
Traditional Crafts Integrated into Sustainable Fashion, Empowering Ethnic Minority Women to Generate Income HONG KONG and SHANGHAI, May 29, 2025 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An", the "Company" or the "Group", HKEX: 2318; SSE: 601318) presented its Mother's Needlework public welfare program at London Craft Week 2025, in the "Tiangong Kaiwu: Crafting Works Of China" exhibition of the China Pavilion. The program showcased embroidery and handcrafted carpets created by women from ethnic minorities, including the Yi and Dulong communities. The pieces exemplify the unique beauty of the intangible cultural heritage passed down for thousands of years and highlight the significant role of handicrafts in women's empowerment, community development, and a sustainable economy. The exhibition's diverse array of handicrafts from Chinese ethnic minorities included the intricate and vibrant Dulong Carpet from Yunnan Province's Dulong people. As a unique garment of one of China's smallest ethnic groups, the Dulong Carpet is celebrated for its intricate craftsmanship and vibrant colors. Ethnic minority crafts are vital expressions of cultural heritage and history. However, rapid modernization threatens the survival of these skills. In 2020, Ping An launched the Mother's Needlework public welfare program to empower ethnic minority women to preserve traditional techniques and boost their incomes through innovative design and market access. The program champions sustainable fashion by integrating recycled materials with traditional ethnic designs, supporting local women to craft aesthetically pleasing and eco-friendly textile products for domestic and international markets. The Mother's Needlework public welfare program has expanded to 10 provinces and regions across China to date, including Sichuan, Guizhou, Yunnan, Inner Mongolia, and Guangdong, benefiting over 100 women. It has significantly improved the economic well-being of participating families and injected fresh vitality into sustainable community development. Ping An affirms that ethnic handicrafts are not only Chinese cultural treasures but also a means to advance sustainable development and social inclusion. Through international platforms such as London Craft Week, Ping An aims to share the unique allure of China's intangible cultural heritage and invite collaboration from global designers and social organizations to collectively explore the innovative and sustainable future of handicrafts. London Craft Week was established in 2015 and is supported by the King's Foundation, a charity founded by King Charles III. It is a premier global event in the fields of design, fashion, and crafts. Each year, it draws designers and artisans from around the world, fostering cross-cultural exchange and innovation through exhibitions, workshops, and forums. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its nearly 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 29 th in the Forbes Global 2000 list in 2024 and 53 rd in the Fortune Global 500 list in 2024.
Yahoo
29-05-2025
- Business
- Yahoo
Ping An's Mother's Needlework Public Welfare Program Showcased at London Craft Week
Traditional Crafts Integrated into Sustainable Fashion, Empowering Ethnic Minority Women to Generate Income HONG KONG and SHANGHAI, May 29, 2025 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An", the "Company" or the "Group", HKEX: 2318; SSE: 601318) presented its Mother's Needlework public welfare program at London Craft Week 2025, in the "Tiangong Kaiwu: Crafting Works Of China" exhibition of the China Pavilion. The program showcased embroidery and handcrafted carpets created by women from ethnic minorities, including the Yi and Dulong communities. The pieces exemplify the unique beauty of the intangible cultural heritage passed down for thousands of years and highlight the significant role of handicrafts in women's empowerment, community development, and a sustainable economy. The exhibition's diverse array of handicrafts from Chinese ethnic minorities included the intricate and vibrant Dulong Carpet from Yunnan Province's Dulong people. As a unique garment of one of China's smallest ethnic groups, the Dulong Carpet is celebrated for its intricate craftsmanship and vibrant colors. Ethnic minority crafts are vital expressions of cultural heritage and history. However, rapid modernization threatens the survival of these skills. In 2020, Ping An launched the Mother's Needlework public welfare program to empower ethnic minority women to preserve traditional techniques and boost their incomes through innovative design and market access. The program champions sustainable fashion by integrating recycled materials with traditional ethnic designs, supporting local women to craft aesthetically pleasing and eco-friendly textile products for domestic and international markets. The Mother's Needlework public welfare program has expanded to 10 provinces and regions across China to date, including Sichuan, Guizhou, Yunnan, Inner Mongolia, and Guangdong, benefiting over 100 women. It has significantly improved the economic well-being of participating families and injected fresh vitality into sustainable community development. Ping An affirms that ethnic handicrafts are not only Chinese cultural treasures but also a means to advance sustainable development and social inclusion. Through international platforms such as London Craft Week, Ping An aims to share the unique allure of China's intangible cultural heritage and invite collaboration from global designers and social organizations to collectively explore the innovative and sustainable future of handicrafts. London Craft Week was established in 2015 and is supported by the King's Foundation, a charity founded by King Charles III. It is a premier global event in the fields of design, fashion, and crafts. Each year, it draws designers and artisans from around the world, fostering cross-cultural exchange and innovation through exhibitions, workshops, and forums. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its nearly 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 29th in the Forbes Global 2000 list in 2024 and 53rd in the Fortune Global 500 list in 2024. For more information, please visit and follow us on LinkedIn - PING AN. View original content to download multimedia: SOURCE Ping An Insurance (Group) Company of China, Ltd. Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Ping An's Mother's Needlework Public Welfare Program Showcased at London Craft Week
Traditional Crafts Integrated into Sustainable Fashion, Empowering Ethnic Minority Women to Generate Income HONG KONG and SHANGHAI, May 29, 2025 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An", the "Company" or the "Group", HKEX: 2318; SSE: 601318) presented its Mother's Needlework public welfare program at London Craft Week 2025, in the "Tiangong Kaiwu: Crafting Works Of China" exhibition of the China Pavilion. The program showcased embroidery and handcrafted carpets created by women from ethnic minorities, including the Yi and Dulong communities. The pieces exemplify the unique beauty of the intangible cultural heritage passed down for thousands of years and highlight the significant role of handicrafts in women's empowerment, community development, and a sustainable economy. The exhibition's diverse array of handicrafts from Chinese ethnic minorities included the intricate and vibrant Dulong Carpet from Yunnan Province's Dulong people. As a unique garment of one of China's smallest ethnic groups, the Dulong Carpet is celebrated for its intricate craftsmanship and vibrant colors. Ethnic minority crafts are vital expressions of cultural heritage and history. However, rapid modernization threatens the survival of these skills. In 2020, Ping An launched the Mother's Needlework public welfare program to empower ethnic minority women to preserve traditional techniques and boost their incomes through innovative design and market access. The program champions sustainable fashion by integrating recycled materials with traditional ethnic designs, supporting local women to craft aesthetically pleasing and eco-friendly textile products for domestic and international markets. The Mother's Needlework public welfare program has expanded to 10 provinces and regions across China to date, including Sichuan, Guizhou, Yunnan, Inner Mongolia, and Guangdong, benefiting over 100 women. It has significantly improved the economic well-being of participating families and injected fresh vitality into sustainable community development. Ping An affirms that ethnic handicrafts are not only Chinese cultural treasures but also a means to advance sustainable development and social inclusion. Through international platforms such as London Craft Week, Ping An aims to share the unique allure of China's intangible cultural heritage and invite collaboration from global designers and social organizations to collectively explore the innovative and sustainable future of handicrafts. London Craft Week was established in 2015 and is supported by the King's Foundation, a charity founded by King Charles III. It is a premier global event in the fields of design, fashion, and crafts. Each year, it draws designers and artisans from around the world, fostering cross-cultural exchange and innovation through exhibitions, workshops, and forums. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its nearly 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 29th in the Forbes Global 2000 list in 2024 and 53rd in the Fortune Global 500 list in 2024. For more information, please visit and follow us on LinkedIn - PING AN. View original content to download multimedia: SOURCE Ping An Insurance (Group) Company of China, Ltd.
