Lufax (6623 HK): On Ping An’s Stake Increases
As discussed in PA Gooddoctor (1833 HK) - The Arb Is To Take The Stock, Ping An increased its stake in Lufax (6623 HK) to 56.82% via a scrip dividend.
This triggered a zero-premium MGO, which closed on the 28 October 2024 with negligible tendering.
Via an amendment to a tri-party agreement, Ping An subsequently lifted its stake to 66.85%. It's worth understanding how Ping An has taken its stake >50% and beyond.
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