CP financing of Ping An doubted
- Published: 14 Jan 2013 at 08.30
- Online news:
Fresh doubts were raised by Hong Kong media on Monday about the ability of Charoen Pokphand Group to pay for its plan to buy a large stake in Ping An Insurance.
The reports said the China Insurance Regulatory Commission (CIRC) was looking into a sudden and unexplained increase in the registered capital of the four CP subsidiaries which the company has said will pay the US$9.4 billion for the Ping An stake.
According to the unsourced Hong Kong reports, the CIRC was concerned that the registered capital increased 52,000 times in less than a month.
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