trending Market Intelligence /marketintelligence/en/news-insights/trending/r1ra01yxvucruq9xtir_pa2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Anbang Property & Casualty to transfer shares in China Merchants Bank

Blog

COVID-19 Impact & Recovery: Financial Industry Outlook for H2 2021

Blog

Banking Essentials Newsletter: May Edition

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9

Blog

Banking Essentials Newsletter: April Edition - Part 2


Anbang Property & Casualty to transfer shares in China Merchants Bank

Anbang Property & Casualty Insurance Co. Ltd.. agreed to transfer part of its stake in China Merchants Bank Co. Ltd. to affiliate Hexie Health Insurance Co. Ltd.

Anbang Property & Casualty will transfer 1,258,949,171 A shares of the bank, or a 4.99% stake, to Hexie Health Insurance. After the transfer, Anbang Property & Casualty will hold 1,445,647,045 A shares and 229,498,500 H shares of the bank, or a 6.64% stake.

A shares, also know as domestic shares, are denominated in Chinese currency and are traded in traded on mainland stock exchanges. H shares refer to the shares of companies incorporated in mainland China that are traded on the Hong Kong stock exchange.

Anbang Property & Casualty and Hexie Health are both units of Anbang Insurance Group Co. Ltd. There had been market speculation in November 2017 that Anbang Insurance Group had been asked by regulators to cut its stake in China Merchants Bank. The bank later said in February that the insurer had no plans to reduce its stake in the bank.