HONG KONGChina’s second largest life insurer, Ping An Insurance Group Co Ltd, is expected to raise US$1.9bil from its initial public offering (IPO) in Hong Kong in May, a local reported yesterday.HSBC, BOC International, Morgan Stanley and Goldman Sachs would underwrite the IPO, The Standard said.
China’s official Xinhua news agency had earlier quoted government officials as saying that Ping An’s listing may be approved by the Hong Kong Stock Exchange in early April. – AFX-Asia
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