China Taiping raises $1.7b in private placement

Despite a drop in A-shares and H-shares, the insurer was able to enlist investors including Yunfeng Capital and Fosun International to participate in the placement.

China Taiping Insurance became the latest mainland company to raise funds through a private placement in Hong Kong, raising $1.7 billion in the secondary deal on Thursday.

The sixth largest equity deal in Asia Pacific ex Japan this year, the placement drew investors such as Yunfeng Capital, the private equity firm that counts Jack Ma’s family office and Tencent CEO Ma Huateng as investors, according to a source close to the deal. Fosun International also participated in the placement, the source added.

The placement comes one week after China Galaxy Securities launched a private placement with a $3.1 billion deal on April 27 and four months after...

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