Ping An’s tech dreams may yet exit intensive care

Ping An Healthcare and Technology Co

16/01/2025 01:28

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
    By Chan Ka Sing
       HONG KONG, Jan 16 (Reuters Breakingviews) - The $110 bln
insurer’s days of spinning off web-based ventures to help boost
its value are long over. But a quirky special dividend is giving
it back majority control of beaten-down but cash-rich Ping An
Healthcare just as the online medical firm’s fortunes look set
to improve.
   Full view will be published shortly.
    
   CONTEXT NEWS
   Ping An Insurance will raise the stake in its medical-tech
unit Ping An Healthcare & Technology from 39.41% to 52.74% as a
result of special dividend scheme, the insurer said on Jan. 8.
The company also said it has no plan to take private the Hong
Kong-listed subsidiary. 
   On Nov. 14, Ping An Healthcare proposed a special dividend of
HK$9.7 apiece, whereas shareholders could elect to receive in
the form of shares.

 (Editing by Antony Currie and Ujjaini Dutta)
 ((For previous columns by the author, Reuters customers can
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KaSing.Chan@thomsonreuters.com))