Ping An comes to life

Does Ping An deserve to price at a premium to China Life?

Pre-marketing began on Monday for a roughly $1.5 billion to $2 billion IPO for Ping An Insurance via joint leads BOCI, Goldman Sachs, HSBC and Morgan Stanley. Pending successful pre-marketing feedback, roadshows will begin on Monday June 7, with pricing scheduled for the beginning of the week of June 21.

Alongside the leads, Daiwa SMBC will run a POWL public offer without listing in Japan, while Cazenove, Citigroup and Fox Pitt Kelton will act as co-leads in the international tranche and BNP Paribas Peregrine as co-lead in the Hong Kong IPO.

Ping An is coming to market at a time when Chinese stocks are starting...

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