PING AN HOLDING TRANSFERRED TO HONG KONG FIRM

Shenzhen-based insurer Ping An is once again altering its complex ownership structure with the transfer of a 7% stake from Shenzhen city to the Hong Kong-listed firm Shenzhen Investment. Ping An is still on course to list on the Hong Kong stockmarket either towards the end of this year of early next, after recently abandoning its plan to float on the New York Stock Exchange. When it does go ahead, the delayed Hong Kong listing will see Ping An offering shares to US investors via American Depository Receipts. In February the insurer completed its splitting of life and non-life operations into separate companies ahead of its planned listing.