AMTD mulls IPO of insurance unit

The Hong Kong-based investment bank, which is backed by Morgan Stanley, China Minsheng Investment, and LR Capital, is looking to build a war chest for acquisitions.

Hong Kong-based AMTD Group, which is backed by China Minsheng Investment, LR Capital, and Morgan Stanleyis planning to list its corporate insurance brokerage arm next year to help fund acquisitions and pave the way for a possible group listing.

 

The insurance unit provides advice on property damage insurance, motor vehicle insurance, and employee insurance to large corporations, including Li Ka-shing’s CK Hutchison, which accounted for half of its revenue last year.

 

According to a document obtained by FinanceAsia, the gross earnings of the insurance unit were about HK$38 million...

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