ZhongAn sets share conversion in motion

ZhongAn Online P&C Insurance (6060) has submitted an application to the China Securities Regulatory Commission for H-share full circulation on April 10, aiming to convert the domestic shares into H shares, the mainland insurer announced today.

The conversion and listing does not require holding of any shareholders’ meeting or class meeting for approval, the company said. The details have not been finalized and further announcements will be made.

Shares of ZhongAn climbed by 3.57 percent to HK$27.55 in the morning.