TPG's Newbridge to sell $1.2 bln Ping An block
HONG KONG, Sept 2 |
HONG KONG, Sept 2 (Reuters) - Newbridge Asia is planning to sell shares worth $1.16 billion worth of Ping An Insurance Group Co of China Ltd (2318.HK) through a block deal, according to a term sheet seen by Reuters.
The shares are being sold to institutional investors in a range of HK$64.68-HK$65.30 each, the term sheet added.
Morgan Stanley (MS.N) is the sole book runner. (Reporting by Fiona Lau and Denny Thomas; Editing by Jacqueline Wong)
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