On January 23, an informed source told the International
Finance News that it is extremely hard for Ping An Insurance
Group, China's second largest life insurer, to carry out a plan to
raise 150 billion yuan through a new round of share issues.
Regulatory authorities would not approve it even if it were passed
by shareholders because they can surmise what kind of impact these
additional share issues would have on society, the source
stated.
In addition, most of the players in the secondary market
strongly object to the insurer's request for an additional share
issue, with some brokers stating that they would play no part in it
at all. Moreover, some analysts have begun to express doubt as to
whether the company is taking its social responsibility
seriously.?
For more details, please read the full story in Chinese. (
http://paper.people.com.cn/gjjrb/html/2008-01/24/content_40074655.htm)
(China.org.cn January 24, 2008)
