Ping An to list in May

Mainland insurer Ping An Insurance Group plans a US$2 billion Hong Kong listing in May that would value the company at US$6 billion, according to a Financial Times report. Ping An, China's second-largest insurer, plans to sell around 30% of its shares to private investors. Analysts said the listing was potentially risky in the wake of a regulatory probe into Ping An rival and China's largest insurer, China Life Insurance. A US$6 billion valuation would put Ping An at the same level as China Life, which raised US$3.4 billion in a dual listing in Hong Kong and New York in December.