Ping An insures itself for successful IPO

Ping An Insurance closed Asia's largest IPO of the year on Friday, raising HK$14.3 billion ($1.83 billion) after pricing the offering just below the mid-point of its indicative range. Having been marketed at HK$9.59 to HK$11.88, the 1.388 billion share deal was priced at HK$10.33 by its four bookrunners BOCI, Goldman Sachs, HSBC and Morgan Stanley.