129689870497921250_179Supplementary capital group and the subsidiaries after all these six months, ping an of China finance again.
Yesterday, ping an of China publishing financing proposal, proposed a supplementary capital by issuing $ 26 billion convertible bond to the a-share markets, promote its insurance, banking, investments, rapid, and healthy development of the three main businesses. Ping an of China said yesterday that the motion will be submitted to the February 8 next year's extraordinary general meetingConsideration, and by the extraordinary General Meeting authorize the Board (or a person authorized by the Board of) offer specific amounts. Priority placement is now planned to the a-share shareholder.
For the original a-shares after shareholders preferred placing of balance and the amount of original a-shares shareholders give up subscription priority placement, through the network with respect to the institutional investors placing or online through the Shanghai Stock Exchange system release. This proposed26 billion yuan convertible bond for a period of 6 years from the date of issue, convertible bond coupon rate of not more than 3%, convertible bond issued in less than 6 months after the end to equity. Ping an of China said, raising Fund, after deducting the cost of issue will be used to supplement the company's working capital.
This is the second time this year the Corporation's financing. In June of this year, ping by h shares
Apple 661-2295 Laptop Battery, private placementFinancing of $ 16.2 billion.
The difference is, $ 16.2 billion mainly for the deep development of complete holdings of significant asset restructuring transactions, and this is all capital requirements in order to meet the Group and subsidiaries. It is learnt that, accompanied by the rapid development of business, solvency ratios of ping an of China and its subsidiaries are facing greater pressure. Data show that by the end of October, pingSolvency ratio is 170.7%
Apple MB772 Laptop Battery, subsidiary of ping an life insurance and ping an property that target and 153.2%, respectively. If the capital is not in place in time, its solvency ratios are likely to fall to a class of regulatory standards (adequate solvency rate of 100% per cent), when talking to be submitted in guarding against the risks and accept the supervision。
In addition, just into its deep development of core capital and capital adequacy ratios are not optimistic at the end of the third quarter and 11.5%, respectively. In fact, ping an of China finance market as early as pre-sentenced, but access to funds in convertible bond way so suddenly and some came along. Brokerage analyst explained that if peace directly to the financing of additional, is likely toRaises the already fragile of the a-share market falls again, one customs supervision is difficult to pass.
And British Securities Institute Director Li Daxiao Twitter says that the fundraising plans the overall impact of partial neutral. China's ping an optimistic estimate, calculating related data to the end of October this year, all 26 billion yuan convertible bond into shares, company solvency capital up to $ 208.9 billion, paymentsAdequacy of 194.9%, subsidiary of relevant indicators will also be significantly improved.
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