Summary by Moomoo AI
Ping An Overseas (Holdings) Limited, a subsidiary of Ping An Insurance of China, and Lufax Holdings Limited announced that Lufax's declaration of a special dividend has triggered a mandatory unconditional cash offer. The offer is aimed at acquiring all issued shares and American Depositary Shares (ADS) of Lufax, excluding the shares already owned by the offeror group. In addition, the offer includes the cancellation of all unexercised options and unvested performance share units (PSUs) under Lufax's 2014 Share Incentive Plan and 2019 Performance Share Unit Plan. Morgan Stanley Asia Limited is providing financial advisory services to the joint offerors, while the Swiss Bank Group is advising Lufax. The offer price is $1.127 per share of Lufax and $2.254 per ADS. The offer...Show More