More details about Ping An of China’s holding of PKU HealthCare: to build a healthcare ecosystem
**Ping An of China takes Founder Securities, whose controlling shareholder is about to change**
On the evening of July 5, Founder Securities announced expected changes of its controlling shareholder and actual controller. According to the announcement, the controlling shareholder Founder Group and its consortium offer Founder Property Control plan to transfer all holdings of Founder Securities to the New Founder Group (the specific name is subject to its registration in the market supervision and management department).The controlling shareholder of Founder Securities is to be changed to the New Founder Group. Ping An Life or its subordinate wholly-owned entities plan to accept the transfer of 73% to 100% of New Founder Group’s shares, and become its controlling shareholder. Ping An, as the controlling shareholder of Ping An Life, intends to control Founder Securities indirectly. The actual controller of Founder Securities is to be changed from Peking University to no actual controller.
**More details about Ping An of China’s holding of** **PKU HealthCare: to build a healthcare ecosystem**
On the evening of July 7, PKU HealthCare issued an announcement stating that by Ping An Life’s holding of New Founder Group, Ping An of China would thereby occupy 40.40% of PKU HealthCare’s total equity. According to the announcement, Ping An Life and Huafa Group will purchase no less than 73% of the shares of New Founder Group in cash at a ratio of 7:3, and no more than 27% of the shares of New Founder Group will be compensated to creditors who choose the stock-based debt repayment plan.
Before this equity change, Ping An Life and its controlling shareholder Ping An of China directly or indirectly held 122,300 shares of PKU HealthCare, accounting for 0.02% of its total equity. After this equity change, New Founder Group holds a total of 240 million shares of PKU HealthCare, accounting for 40.38% of its total equity. Ping An Life has become the controlling shareholder of New Founder Group, and directly or indirectly controlled 40.40% of PKU HealthCare with Ping An of China.
Regarding reorganization of investment funds, the announcement shows that if creditors choose to retain debt in New Founder Group according to the reorganization plan or/and use the equity of New Founder Group to repay debt, Ping An Life and Huafa Group will pay no less than 52.925 billion yuan to the reorganization manager. The announcement disclosed that participating in the reorganization of Founder Group is an important step for Ping An to further deepen strategic layout of the healthcare industry and actively build a healthcare ecosystem. By closely combining the high-quality medical resources of PKU HealthCare with Ping An’s insurance expertise and medical technology capabilities, a healthcare ecosystem with “scenarios, services, warmth, and frequency” will be built. It will become a new engine for Ping An's future value growth
Source: ShangHai Securities News