China Pacific Insurance is planning to relaunch its Hong Kong IPO, after its first attempt failed last year when markets nosedived, Reuters reported, citing unnamed sources. China’s third-largest life insurer, which is partly owned by the Carlyle Group, had attempted to raise nearly US$4 billion from an IPO on the Hong Kong bourse last year. The company has reportedly been in early discussions with several investment banks for a new Hong Kong IPO aimed at excluding a minimum listing price condition that had previously been required. China Pacific has also pledged not to list shares in Hong Kong at a value below its December 2007 Shanghai IPO of RMB30 (US$4.39) per share.
You must log in to post a comment.