HSBC in China

HSBC in talks to sell Ping An stake

HSBC is considering selling its $9 billion stake in Ping An Insurance.
<div style="text-align: left;"> HSBC has been invested in Ping An since 2002 </div>
<div style="text-align: left;"> HSBC has been invested in Ping An since 2002 </div>
November 20, 2012

HSBC is considering selling its stake in Ping An Insurance, the bank’s second-biggest investment in China.

The British bank’s 15.57% stake in China’s second-biggest insurer is valued at more than $9 billion almost three times the $3.5 billion that HSBC is aiming to save by 2014.

It has been widely speculated that the bank plans to sell all of its 40% stake in Ping An’s Hong Kong-listed shares, which represents 15% of its total stake in the Chinese insurer.

HSBC issued a statement yesterday saying it has “from time to time received approaches regarding its shareholding and confirms that it is in discussions which...

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