China Business News: SDB to place 500 mln new shares with Ping An Insurance

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SDB to place 500 mln new shares with Ping An Insurance

Jun. 11, 2009 (China Knowledge) - Shenzhen Development Bank Co Ltd(SDB)<000001> plans to issue around 500 million new shares to Ping An Insurance (Group) Co<601318><2318>, China's second-largest insurer, to raise its capital adequacy ratio, sources reported.The new shares will be priced at RMB 22 apiece and will give Ping An a 33% stake in SDB, the Shanghai Securities News report

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