Chinese online insurer ZhongAn wins HK approval for $1 billion IPO - sources

Updated: Fri, Sep 08, 2017
11:23 am
Reuters
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED

ZhongAn Online Property and Casualty Insurance Co Ltd, China`s first internet-only insurer, secured Hong Kong stock exchange approval for its planned initial public offering which could raise more than $1 billion, sources with direct knowledge of the deal said on Friday.

The company plans to start gauging investor appetite for the IPO, the largest by a financial technology (fintech) company in the city, as soon as Monday after receiving the nod from the listing committee of the Hong Kong stock exchange, added the sources.

The sources could not be named because details of the deal are not public. ZhongAn did not immediately reply to a Reuters request for comment on its IPO plans.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.