JPMorgan raises shareholding in Ping An to 7.01%

Published: 18 Oct 2009 19:06:08 PST

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Oct. 19, 2009 (China Knowledge) - US-based financial holding company JPMorgan Chase & Co recently raised its shareholding in Ping An Insurance (Group) Co<601318><2318> to 7.01% from the previous 6.98%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

Information from the HKEx showed that JPMorgan on Oct. 12 bought 689,638 shares of Ping An for a total of HK$45.14 million. The average share price of the transaction was HK$65.46 apiece.

Ping An Insurance is the second-largest insurer in mainland China.

H shares of Ping An rose 0.15% to end at HK$67 on Friday.