According to the information disclosed by the Hong Kong Stock Exchange, Taiping Asset Management Co., Ltd. (referred to as &#34;Taipingren Asset&#34;) reduced 70 million shares of ICBC H shares on June 14, with a price of HKD 4.18 per share.
Just a few days ago on June 12, Taiping Life Insurance Co., Ltd. (referred to as &#34;Taiping Life&#34;) reduced 70 million shares of ICBC H shares, with a price of HKD 4.31 per share.
The two transactions accumulated nearly CNY 600 million in cash. It is reported that both transactions were operated by Taiping Asset Management Co., Ltd.
Taiping Life is a life insurance company under the insurance giant Taiping Insurance Group.
In late November last year, China Taiping and its subsidiary increased their holdings and took over ICBC through the Hong Kong Stock Connect.
At that time, the average purchase price of ICBC H shares by China Taiping was between HKD 3.736 and HKD 3.846 per share. This also means that the sale of ICBC H shares this time is a profit-taking sale.
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ICBC

In the past three days, there has been a second round of reduction! China Pacific Insurance and its asset management subsidiary reduced their holdings of 70 million ICBC H shares, cashing out a total of 600 million yuan.