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PR Newswire
21-11-2017, 03:23 PM
China's Ping An Is No. 2 to Berkshire Hathaway and Rising Fast
Bloomberg News
November 21, 2017, 1:03 PM GMT+8
A surge in Ping An Insurance (Group) Co.’s shares this year has made it the world’s second-largest insurer by market value after Berkshire Hathaway Inc. And the rally may not be done yet.
Shares of the Chinese insurer, which more than doubled this year to boost the company’s market valuation to about $208 billion, jumped on Tuesday to a new record after Chief Financial Officer Jason Yao told reporters that the firm’s technological prowess was under-rated. Ping An’s valuation has much room to increase as the company gradually spins off Internet technology units for their own listings, Yao said on Monday in Shenzhen, where the company held its Investor Day.
Optimism surrounding Ping An’s business prospects ahead of its investor meetings helped propel a 14 percent advance in the shares since Thursday. The shares rose 5.8 percent to HK$83.80 in Hong Kong amid a broader rally for financial stocks, and are the best performers this year on the 46-company Hang Seng China H-Financials Index.
More details in https://www.bloomberg.com/news/articles/...ising-fast
Bloomberg News
November 21, 2017, 1:03 PM GMT+8
A surge in Ping An Insurance (Group) Co.’s shares this year has made it the world’s second-largest insurer by market value after Berkshire Hathaway Inc. And the rally may not be done yet.
Shares of the Chinese insurer, which more than doubled this year to boost the company’s market valuation to about $208 billion, jumped on Tuesday to a new record after Chief Financial Officer Jason Yao told reporters that the firm’s technological prowess was under-rated. Ping An’s valuation has much room to increase as the company gradually spins off Internet technology units for their own listings, Yao said on Monday in Shenzhen, where the company held its Investor Day.
Optimism surrounding Ping An’s business prospects ahead of its investor meetings helped propel a 14 percent advance in the shares since Thursday. The shares rose 5.8 percent to HK$83.80 in Hong Kong amid a broader rally for financial stocks, and are the best performers this year on the 46-company Hang Seng China H-Financials Index.
More details in https://www.bloomberg.com/news/articles/...ising-fast
Specuvestor: Asset - Business - Structure.