Ping An completes HKD 11.765bn convertible bond issue

Ping An Insurance (Group) Company of China, Ltd. (HKEX: 2318) announced the completion of its offering of zero coupon convertible bonds due 2030, with an aggregate principal amount of HKD 11,765,000,000. The company confirmed that all conditions precedent under the subscription agreement have been fulfilled as of June 11, 2025. Ping An intends to allocate the net proceeds from the bond issuance to bolster its core business, strengthen its capital position, support new strategic initiatives in the healthcare and elderlycare sectors, and for general corporate purposes. The company has obtained approval for the listing of, and permission to deal in, the Conversion Shares on the Hong Kong Stock Exchange. It will make, or cause to be made, an application for the Bonds to be listed on the Open Market of the Frankfurt Stock Exchange by no later than 45 days following the Closing Date. Morgan Stanley and Ping An Securities (Hong Kong) Company Limited acted as joint lead managers for the transaction.