China's Ping An Insurance acquires additional stake in HSBC

A logo of Ping An Insurance is seen outside its building in Shenzhen in this February 5, 2013 file photo. REUTERS/Tyrone Siu/File photo

Ping An Insurance Group Co of China Ltd, the biggest shareholder in HSBC Holdings Plc, has bought additional shares in the British bank to take its stake to 8%.

The insurer bought 10.8 million shares at an average price of HKD28.29 (2.9 pounds) per share on Sept. 23 via investment management arm, Ping An Asset Management Co Ltd, it said in a filing to the Hong Kong stock exchange late on Friday.

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