China Pacific Insurance said it wants to raise US$4.1 billion from its upcoming A-share listing in Shanghai, the Wall Street Journal reported. It set a price range of RMB27-30 (US$3.70-4.10) a share for 1 billion A-shares, representing 12.99% of its enlarged share capital. The company is partly owned by private equity firm Carlyle Group, whose stake will fall from 19.9% currently to 17.32% after the listing. It will be the third insurer to list on a domestic exchange, after China Life Insurance and Ping An Insurance. A final IPO pricing will be announced on December 18 and it will list on the Shanghai Stock Exchange on December 25. More than a third of the shares could be offered to institutional investors, and the rest to retail investors. The firm said it would use the money raised to supplement its working capital and drive business growth. China Pacific also plans to offer 900 million H-shares in Hong Kong priced at or above its A-share price range.