New China Life block fetches $280m

Secondary market activity continues as investors seek to cash in on gains of Hong Kong-listed Chinese companies.

New China Life block fetches $280m

An undisclosed shareholder raised $280.4 million in a secondary share sale of New China Life Insurance on Tuesday night after offloading shares towards the bottom of the indicative price range.

The share sale follows a run-up in the mainland insurance company's shares as investors are keen to cash in on the gains in Chinese companies listed in Hong Kong.

UBS launched the 34.6 million-share offering Tuesday at an indicative price...

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