Investor education underway for PICC, but who’s leading it?

Bankers yesterday kicked off the investor education for the highly awaited IPO of state-owned Chinese insurance company PICC Group.

The company, which is actually called The People’s Insurance Company Group of China, is aiming to raise somewhere between $3 billion and $4 billion, which will make it the largest listing in Hong Kong this year. It could even be the largest in Asia if it exceeds the $3.3 billion raised by palm oil, rubber and sugar producer Felda Global Ventures in Malaysia. Hence it will help to improve the numbers for what has otherwise been a pretty dismal year for IPOs, particularly in Hong Kong.

However,...