DLA Piper advised longtime client Ping An Insurance (Group) Co. of China Ltd. on a $4.7 billion share sale in Hong Kong.
The Shenzhen-based company sold 594 million shares at $8 each in a private placement to up to 10 as yet undisclosed investors. In a filing to the Hong Kong Stock Exchange, Ping An said the money will be used to replenish its working and equity capital, as well as fund future business development.
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