Financial front-line news on May 21dragon'slairminiarcade, China Taiping Insurance Holdings Limited (China Taipingdragon'slairminiarcade，0966dragon'slairminiarcade.HK) issued an announcement yesterday saying that its Taiping Pension Group had previously introduced external investors to increase capital through public listing. It is a wholly owned subsidiary of Ageas SA/NV, an international insurance listed group that provides life and non-life insurance products to customers in European and Asian markets. Belgian Fujie International Co., Ltd.(hereinafter referred to as Fujie) has been confirmed by the Shanghai Equity Exchange as the only qualified bidder in accordance with the public listing rules and regulations.
According to the announcement, Fujie Group plans to use 10dragon'slairminiarcade.75 billion yuan will increase capital to Taiping Pension. After the capital increase is completed, Fujie Group will hold 10% of Taiping Pension. China Taiping's shareholding ratio will be reduced from 100% to 90%.
At the same time, according to the shareholders 'agreement, Fujie Group and its subsidiaries can increase their holdings of Taiping Pension to a maximum of 24.99% at any time between the signing date of the shareholders' agreement and the third anniversary of the settlement date.
China Taiping said in the announcement that Taiping Pension's introduction of Fujie as an investor will help replenish its capital, provide capital guarantee for expanding its pension insurance business, and support business development.