The addition of a Renminbi counter will enable investors to trade the company's shares in the yuan, in addition to the Hong Kong dollar. The move follows similar dual-counter applications made by a number of major companies including insurer AIA Group and Tencent , among others.
Late last year, the Hong Kong Stock Exchange said it would
introduce a new dual counter trading model from the first half
of 2023 where investors would be able to interchange securities
listed in both Hong Kong dollars and renminbi counters.
The measures are the latest in a series of undertakings to
aid a growing number of U.S.-listed Chinese firms conducting
primary or secondary listings in Hong Kong to mitigate the
impact of possible delistings in the United States.
"The dual counter model will offer a new choice of trading
currency and the opportunity to potentially tap into more
liquidity for the shareholders of the Company and potential
investors," Ping An Insurance said in an exchange filing.
(Reporting by Roushni Nair in Bengaluru; Editing by Krishna
Chandra Eluri)
