Hong Kong Exchanges and Clearing Limited (HKEX) has announced the arrangements for the adjustment to PICC Property and Casualty Company Limited (PICC P&C) structured products, futures and options to account for PICC P&C’s proposed capitalisation issue.
Corporate action overview
| Company (Stock Code) |
PICC P&C (2328) |
| Corporate Action |
5 Capitalisation Shares for every 10 existing Shares |
| Ex-date |
27 June 2018 |
For details, please refer to the announcement made by PICC P&C on 23 March 2018.
Investors should consult their brokers for further details, or if they have any questions regarding the adjustment.
Structured products with shares of PICC P&C as underlying asset
The listing documents of all existing structured products with the shares of PICC P&C as underlying asset contain provisions that deal with a bonus issue. Structured product issuers will make announcements in the evening of 26 June 2018 regarding the relevant adjustments (including the adjusted entitlement, adjusted exercise price and adjusted call price, as appropriate) and investors should read the contents of such announcements carefully.
Adjustment of PICC P&C Futures and Options
For detailed trading and clearing arrangement of PICC P&C Futures and Options after the adjustments, please refer to the circulars posted on HKEX website.
Investors should note that the adjusted and standard stock futures and options will have different contract sizes. There will not be any changes to the number of open positions and other contract terms after the transfer of positions.
Ends