After nearly four years, Ping An of China has passively consolidated its holdings in Lufax, with a shareholding ratio expected to increase to 56.82%, stating that it has no intention of privatization
嫦娥的情人矩
发表于 2024-7-4 10:14:31
1270
0
0
Caixin News Agency, July 4th (Reporter Zou Juntao) Lujin will once again become a subsidiary of China Ping An Holdings.
On the evening of July 3rd, Ping An Securities of China (601318. SH) announced that due to its wholly-owned subsidiary choosing to pay dividends through shares in the special dividend distribution of Lufax (Hong Kong Stock Exchange Securities, abbreviated as Lukong, 6623. HK), Ping An Securities of China's holdings in Lufax increased to 56.82%, and will passively merge with Lufax, triggering a mandatory comprehensive offer under the Hong Kong Takeover Code.
It is understood that Lufax was once an Internet finance company held by Ping An of China, which was split up and independent around 2020, and listed on the New York Stock Exchange and Hong Kong Stock Exchange successively. This time, China Ping An passively consolidated its controlling stake in Lufax. China Ping An has stated that it will not intervene in Lufax's operations and has no intention of privatization.
On the evening of that day, Ping An of China responded to a reporter from Caixin that Lujin Exchange would give back to investors and distribute special dividends. As the major shareholder, Ping An chooses to receive the special dividend through stock dividends and passively consolidates its controlling stake in Lufax. This choice is positive for both Ping An and Lufax, demonstrating Ping An Group's confidence in Lufax's long-term development prospects.
Passive consolidation of Lujiazui, China Ping An claims no intention of privatization
On the evening of July 3rd, Ping An Insurance of China issued a cautionary announcement regarding the inclusion of Lujin Holdings Limited (referred to as "Lujin") in the scope of consolidated financial statements, stating that the shareholders' meeting of Lujin approved the company to declare and distribute special dividends (referred to as the "Special Dividend Plan") from the reserve share premium account, and eligible shareholders can choose to receive all special dividends in the form of new shares (referred to as "share based interest").
As of the announcement date, Ping An of China, through its wholly-owned subsidiaries An Ke Technology Company Limited (referred to as "Anke Technology") and China Ping An Insurance Overseas (Holdings) Limited (referred to as "Ping An Overseas Holdings"), holds a total of 41.40% equity in Lufax. According to the special dividend plan, Anke Technology and Ping An Overseas Holdings have chosen to pay dividends through shares, and will receive a total of 509880257 new shares issued by Lujin.
According to the announcement, according to the final selection result of the special dividend plan of Lujinsuo, after the completion of this special dividend distribution, the equity proportion of Lujinsuo held by Ping An through the aforementioned subsidiary will increase to 56.82%. Therefore, Ping An China stated in the announcement that Lujin will become a controlling subsidiary of the company and be included in the consolidated financial statements. The inclusion of Lujin in the consolidated financial statements will not have a significant impact on the company's financial condition and operating results.
On the evening of the same day, Ping An and Lujin's Hong Kong Stock Exchange issued a joint announcement, stating that after Lujin's tender delivery, Ping An hopes that Lujin will continue its main business. Ping An China has no intention of redeploying any fixed assets of Lufax Group (excluding those carried out in the daily and general business processes of Lufax Group) or terminating the employment of employees of Lufax Group.
At the same time, Ping An of China has no intention of privatizing Lufax and believes that there is no reasonable possibility of privatizing Lufax, and intends to maintain the listing of Lufax on the Hong Kong Stock Exchange and the New York Stock Exchange. In addition, Ping An Securities of China has no intention of using any power to forcibly acquire any outstanding shares of Lufax after the tender delivery of Lufax.
Four years ago, Lufax was spun off from Ping An and listed separately
According to public data, Lufax was incorporated in the Cayman Islands on December 2, 2014, and has rapidly grown into the largest Internet finance enterprise in China relying on Ping An Group. In November 2017, Chen Xinying, then Deputy CEO and Chief Information Officer of Ping An Insurance, stated in an interview with the Hong Kong Economic Daily that she would actively consider splitting Lufax and listing it independently when it had sufficient scale.
On October 30, 2020, Lufax was spun off and officially listed on the New York Stock Exchange in the United States. In April 2021, Lufax submitted a Form 20-F document to the US SEC, which showed that as of February 22, 2021, Tun Kung Company Limited held 39% of the shares, while Ping An Group of China held 38.6% of the shares.
In April 2023, Lufax was listed again on the Hong Kong Stock Exchange. According to the prospectus, Ping An of China holds 41.4% of the shares, while Tun Kung Company Limited holds 28.3%. According to media reports at the time, Lujin stated that Ping An Group is a long-term business partner and strategic shareholder of the company. The relationship between the company and Ping An Group has established a business model that is difficult to replicate, while not compromising operational autonomy.
The official website of Lujinsuo currently shows that the company is a leading financial service empowerment institution for small and micro business owners in China, and a joint venture of China Ping An Group, providing convenient channels for small and micro business owners to obtain inclusive products and services. As of the end of June 2023, Lujin Holdings has provided loan services to over 19.7 million people and managed a loan balance of 426.4 billion yuan.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Tesla China denies discussing FSD authorization with SAIC
- Tesla China's latest statement: not true! Trump suddenly spreads big news! Has Musk become a big winner again?
- Johnson&Johnson China reported layoffs! Layoff employees: Surgical department has the highest number of layoffs
- The Nasdaq China Golden Dragon Index closed up 1.71%, with most popular Chinese concept stocks rising
- The Nasdaq China Golden Dragon Index closed up 1.71%, with most popular Chinese concept stocks rising
- Yum China repurchases 50000 shares and pays approximately $2.4 million
- FSD authorizes SAIC to layout Robotaxi? Tesla China: Never Connected
- Starbucks responds to rumors of 'considering selling shares in China business': committed to developing in China and striving to find the best growth path
- Starbucks responds to rumors of considering selling equity in its China business: committed to long-term development in the Chinese market and striving to find the best growth path
- The Nasdaq China Golden Dragon Index closed down 1%, with most popular Chinese concept stocks falling
-
知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
- caffycat
- 昨天 11:18
- 支持
- 反对
- 回复
- 收藏
-
每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
- star8699
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
- goodfriendboy
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
人民网北京11月22日电 (记者栗翘楚、任妍)2024广州车展,在新能源汽车占据“半壁江山”的同时,正加速向智能网联新能源汽车全面过渡,随着“端到端”成为新宠,智能驾驶解决方案成为本届广州车展各大车企竞 ...
- 3233340
- 昨天 17:06
- 支持
- 反对
- 回复
- 收藏