Ping An shares drop after sale
(02-04 17:57)
Shares of Ping An Insurance (2318) have fallen by the most in about a month, after the mainland securities regulator gave the go-ahead on Friday for HSBC to sell its remaining stake in the mainland insurer to a Thai conglomerate.
Shares of Ping An fell 2.7 percent to HK$68.90 in Hong Kong trading. The Thai group bought the shares from HSBC (0005) for HK$59 each, making a paper gain of nearly HK$12 billion, RTHK reports.
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