Ping An Life Insurance, a subsidiary of Ping An Insurance (02318.HK), has increased its holdings in the H-shares of Agricultural Bank of China (ABC) (01288.HK) by 102.505 million shares, worth approximately $512 million. This move, completed on March 25, brings Ping An Life Insurance’s total holdings in ABC’s H-shares to 2.842 billion, representing more than 9% of the bank’s total H-shares.
The latest transaction was disclosed on the Hong Kong Stock Exchange, with the updated stake reflecting Ping An Life Insurance’s ongoing investment strategy in ABC. The H-share purchase further strengthens Ping An’s position in the Chinese banking sector, which has seen increasing interest from institutional investors.
As of the latest data, Ping An Insurance’s stock saw a slight increase of 1.3%, while ABC’s H-shares rose by 0.2%.
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