china-pacific-sounds-out-market-for-hshare-ipo

China Pacific sounds out market for H-share IPO

The Chinese insurance company aims to raise $3.2 billion from a Hong Kong listing by the end of March, but has set no firm timetable for the launch of the offering.

By Anette Jönsson

March 03, 2008

China Pacific Insurance yesterday started to sound out the market for a Hong Kong IPO which at $3.2 billion would become the largest H-share offering since China Citic Bank raised $4.2 billion in April last year.

ChinaÆs third largest life insurer is expected to attract a lot of attention from international investors because of its size and the rapid development of private insurance in China, but it could have chosen a better day to share its story. Regional markets tumbled after weak data and concerns about more subprime related-losses sparked renewed fears of a global recession. In Hong Kong, the Hang Seng Index lost 3.1% and close peers China Life Insurance and Ping An Insurance...

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