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Ping An Insurance Group Co Of China Ltd Establishes Joint Venture with Alibaba and Tencent Holdings Ltd- ShangHai Securities News


Sunday, 13 Oct 2013 07:51pm EDT 

Reuters reported that according to ShangHai Securities News, Ping An Insurance Group Co Of China Ltd has established a joint venture with Alibaba, Tencent Holdings Ltd and six other companies. The joint venture capitalized at RMB 1 billion is engaged in Internet-related property insurance business in Shanghai. Alibaba is holding 19.9% stake, while Ping An Insurance Group and Tencent Holdings is holding 15% stake respectively. 

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65.75
1.25 +1.94%
22 Aug 2014