PICC P&C draws strong demand for H-share rights issue

Sources say the $290 million offering is multiple times covered including excess applications, helped by a generous discount to the latest market price.
<div style="text-align: left;"> PICC P&C: Building capital ahead of a rise in car sales? </div>
<div style="text-align: left;"> PICC P&C: Building capital ahead of a rise in car sales? </div>
June 19, 2013

PICC Property & Casualty, the non-life insurance arm of Chinese insurance giant PICC Group, has received strong demand for the H-share portion of its renounceable rights issue, which closed yesterday.

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