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HSBC falls 3% amid reports that top shareholder Ping An is looking to trim its stake

·1 min

Ping An Considering Further Share Sales to Reduce Stake in HSBC: Sources

Insurer Ping An is reportedly considering further share sales to reduce its stake in HSBC. This comes after the company recently sold $50 million worth of HSBC shares. Ping An has had disagreements with HSBC’s management, including supporting a failed motion to spin off its Asia business. The insurer is exploring various options, including reducing its stake through share sales or attracting a wealthy investor to take a sizable stake.