Top HSBC shareholder Ping An will retain investment in bank, source says, amid sale talk

By Jerry  Published On May 17, 2024
HONG KONG, May 17 (Reuters) – Ping An Asset Management, HSBC Holdings PLC’s (HSBA.L), opens new tab largest shareholder, will continue to hold its investment in the Asia-focussed lender, a source close to the Chinese fund manager said on Friday, after reports it was considering selling more shares.
“We continue to be positive about HSBC and will continue to hold the investment,” said the source, who declined to be identified because of the matter’s sensitivity.
Ping An Asset Management, a wholly-owned unit of Ping An Insurance (601318.SS), opens new tab, did not immediately reply to Reuters’ request for comment. A spokesperson for HSBC in Hong Kong declined to comment.
Bloomberg News reported on Thursday, citing people familiar with the matter, that Ping An was considering options to reduce its 8% stake in the London-headquartered bank, which generates the bulk of its revenue and profit in Asia.
Source: REUTER

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