china-pacific-insurance-starts-marking-for-hshare-ipo

China Pacific Insurance starts marking for H-share IPO

The Chinese insurer may raise more than $3 billion from a Hong Kong IPO two years after it listed in Shanghai.

China Pacific Insurance Group Co CPIC yesterday started the marketing for its long-awaited H-share initial public offering with sources saying the deal could raise more than $3 billion.

The offering could well be the last multi-billion dollar IPO in Hong Kong this year, depending on whether Russian aluminium producer Rusal gets final approval from the stock exchange to go ahead with its $2.5 billion deal later this week. The third large issuer that was planning to come to market before year end -- Australian commodities play Resourcehouse -- has decided to postpone its offering until early next year since it still has some outstanding issues that it needs to clarify to the stock exchange. Resourcehouse,...

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