New China Life block raises $555m amid deal flurry

Buoyant capital markets prompt Singapore's Great Eastern Holdings to sell stake in mainland insurer while GIC exits Far East Horizon and UBS moves to offload China Cinda holding.

New China Life block raises $555m amid deal flurry
Soaring stocks have revitalised accelerated block markets in Hong Kong

The blackout period is officially over. Four accelerated share offerings launched Monday night in Hong Kong amid soaring stock markets.  

Singaporean life insurer Great Eastern Holdings raised $555 million after offloading 85 million shares in New China Life Insurance in a block trade last night, taking advantage of a 19% six-day spike in share prices in the mainland insurance company.  

UBS meanwhile sought to raise $303 million by...

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