(Re)in Summary
• Ping An announced plans to buy the remaining stake in Ping An Healthcare and Technology.
• The remaining stake is valued at HK$13.23bn (US$1.70bn).
• Ping An Healthcare would remain listed, and its results will be consolidated into Ping An Group’s financials.
Ping An Insurance announced in a stock exchange filing an offer to buy the remaining stake of its healthcare firm Ping An Healthcare and Technology,
Ping An Insurance currently has a 39.41% stake in the healthcare firm, with the remaining stake valued at HK$13.23 billion (US$1.70bn).
The exchange filing states that Glorious Peace Limited, a subsidiary of Ping An Insurance, has offered HK$6.12 in cash per share to Ping An Healthcare’s shareholders. This offer is a 2.86% discount compared to the closing price of HK$6.3 on 8 Jan 2025.
If the deal is completed, Ping An Healthcare and Technology will become an indirect non-wholly-owned subsidiary of Ping An Group, with financial results to be consolidated into the group’s financial statements.
The company added that it has no intention to privatise Ping An Healthcare and Technology following the purchase.