New China Life targets $4 billion IPO

China's third-biggest life insurer is braving the market with an initial public offering that could raise as much as $4 billion.

New China Life targets $4 billion IPO

Apparently not all issuers are daunted by the market crash. New China Life Insurance, the country’s third-biggest life insurer in terms of premiums, filed an application yesterday to the Hong Kong exchange to raise up to $4 billion in a dual initial public offering in Hong Kong and Shanghai.

If approved, the deal will test investor confidence in a market that has recorded historically poor performance and an industry that is still very immature in...

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