Press Release

JPMFC Acted as the Joint Lead Underwriter for Ping An Insurance (Group) Company of China, Ltd. 2013 A Share Convertible Bond Issuance

On 22 Nov, 2013, Ping An Insurance (Group) Company of China, Ltd. (PING AN) completed its 2013 A Share Convertible Bond Issuance. Rmb26 billion Yuan was raised and the convertible bond and to-be new shares will be listed on Shanghai Stock Exchange. J.P. Morgan First Capital (JPMFC) acted as the joint lead underwriter.

PING AN, set up in 1988, is China's first joint stock insurance company. As of today, PING AN has become a comprehensive financial services group integrating insurance, banking, investment and other financial business. Ping AN ranked 242th in the Wealth World Top 500. The issuance was its first refinancing in the A share market since its A share IPO in 2007 and H Share placement in 2011. The successful capital raising has strengthened its capital, laying a good foundation for its future growth.

This is the 7th convertible bond issued in China this year, and JPMFC has underwritten 3 out of the 7 offerings. In the transaction, JPMFC has fully demonstrated our strong underwriting capability and our ability of servicing large-sized financial institutions.