Ping An Insurance (Group) Company of China Ltd and Shionogi (Hong Kong) Company Ltd agreed on July 27 to launch joint ventures in Shanghai and Hong Kong -- Ping An-Shionogi Co. Ltd and Ping An-Shionogi (Hong Kong) Limited.
Ping An-Shionogi Co., registered in Shanghai, has a total investment that equals $419 million with Ping An’s equity accounting for 49% and Shionogi’s equity accounting for 51%.
Ping An-Shionogi (Hong Kong) Limited, registered in Hong Kong, is has an investment of $46 million with the same equity ownership split between the entities . . .
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