Ping An Sells $50 Million of HSBC Shares After Vote Against CEO [BNN Bloomberg (Canada)]
HSBC Holdings, plc. (HSBC)
US:NYSE Investor Relations:
hsbc.com/investor-relations
Company Research
Source: BNN Bloomberg
Ping An's asset management arm sold 5.65 million shares of HSBC this week, according to a filing. The transaction, which is valued at HK$391.5 million ($50.1 million), brought the insurer's stake in HSBC from 8.01% to 7.98%. Even after the sale, Ping An remains one of HSBC's largest shareholders with a stake valued at £10.5 billion ($13.2 billion), according to data compiled by Bloomberg. “HSBC is our long term financial investment,” Ping An said in a statement. “The bank has maintained unique competitive advantage in Asia. We are confident of its long-term development.” Ping An in recent years has been pushing HSBC to embark on a series of reforms, including spinning off its Asian arm. That effort was roundly defeated at a shareholder meeting last year. The insurer lodged a protest vote against Quinn's leadership at the shareholder meeting of Europe's largest bank last week, people familiar with the matter told Bloomberg News. The vote came days after he surprised the busine
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HSBC
Sec Filings
- 5/20/24 - Form 6-K
- 5/20/24 - Form 6-K
- 5/17/24 - Form 8-A12B
- HSBC's page on the SEC website