PA will not consider applying for public secondary A-share offering in at least half a year
The condition and the timing are not right for applying for refinancing
PA will not consider applying for public secondary A-share offering in at least half a year.
Ping An of China (601318) said in an announcement today that given the volatility of the Chinese capital market recently, the conditions and the time are not right for applying for refinancing. The company will not consider submitting application for public secondary A-share offering in at least six months from the day the announcement is released.
The announcement says that given the volatility of the Chinese capital market recently and after careful study, the company believes the conditions and the time are not right for applying for refinancing. The company will not consider submitting application for public secondary A-share offering at present (in at least six months from the day the announcement is released). Meanwhile, the company will seriously consider the timing for application for and issuance of the convertible bonds with detachable warrants, depending on the market status and the investors' tolerance.
Ping An of China noted that the decision has been seriously made based on the careful study on the market condition as well as the timing and size of the refinancing and the market tolerance. The company has taken the shareholders' interests into full consideration and has asked for opinions from all related parties before the announcement. The company will stick to it's clear development strategies and ensure the stable growth of all the businesses to make long-term and stable return for all of it's investors.
