Ping an Weighs Cut to $13.3 Billion Stake in HSBC, Bloomberg Reports

Dow Jones05-16

--China's Ping An Insurance Group is looking at options to reduce its 8% stake in HSBC Holdings, Bloomberg reports, citing people familiar with the matter.

--The possibilities under consideration include share sales, a sovereign wealth fund or investors in the Middle East taking a sizable stake, according to Bloomberg.

--Ping An and HSBC didn't immediately respond to requests for comment.

Full story: https://shorturl.at/cjxyZ

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

May 16, 2024 11:39 ET (15:39 GMT)

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