CAPITAL RAISING AT PING AN LIFE ARM

CHINA’S second largest insurer Ping An Insurance (Group) is to contribute to a Yuan5bn capital raising exercise at its life insurance arm. Ping An life Insurance Company of China is embarking on a rights issue and its parent, which holds a 99% stake, has said it will purchase 4.95 billion shares at Yuan1 each. Shares will be issued at a ratio of one for every 0.76 shares held, Ping An Insurance said in a statement to the Shanghai Stock Exchange.