PICC begins pre-marketing

China''s largest property and casualty insurer hopes to raise $400 million to $500 million from its IPO.

Pre-marketing begins today Tuesday for what is expected to be an offering of 30% of PICC Property Casualty Company. Early signs of strong demand will be critical to ensuring the Hong Kong listing a success, since the Chinese insurance sector is about to completely monopolise investors' attention over the coming two months.

Right alongside PICC, China Life looks set to embark on an almost concurrent offering schedule, with an analysts' meeting for its $2 billion deal scheduled to held later this week and pricing to follow two to three weeks after PICC in mid-November.

PICC's schedule will see pre-marketing wrap up in two weeks time, with roadshows commencing on...

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