OneConnect Financial (6638 HK/OCFT US): Ping An Firms Offer @ HK$2.068/Share
Back on the 14th March, dual-listed OneConnect Financial (6638 HK/OFT US), a digital retail banking/commercial banking/digital insurance play, announced a non-binding proposal from Ping An, OneConnect's controlling shareholder with 32.12%.
By way of a Scheme, Ping An offered HK$2.068/share, or US$7.98/ADS, a 72.33% premium to last close, and a 131.66% premium to the 30-day average. The price was final.
SAMR has now signed off on the deal and terms are now firmed. M&G is supportive (1.98% of shares out, ~8% of disinterested shares). Perhaps mid-September completion.
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