Beijing-based insurer PICC Property & Casualty (2328.HKG) is planning to offer 0.9 rights shares for every 10 shares held to raise RMB7.25 billion to replenish capital, Bloomberg reported, citing a Hong Kong stock exchange statement from the company. PICC, the largest non-life insurer in the country, said it would price the Hong Kong-listed shares at HK$7.46 each, a 40% discount to yesterday’s close; domestic shares will be priced at RMB5.92 each.