China Insurance International Holdings CIIH, the Hong Kong unit of China Insurance Group, could raise around HK$412 million $53 million when it makes an initial public offering on the Hong Kong Stock Exchange later this month. But that's not the end of the story. Swiss Re, the worldÆs second largest re-insurance company, has agreed to take up 28.3% of the issue, according to the underwriter of the deal.
CIIH plans to offer a total of 297.2 million shares, which will be priced between HK$1.22 and HK$1.44 each. The issue represents 35% of the companyÆs enlarged share capital.
BNP Prime Peregrine will underwrite the share sale, which has been...
