HONG KONG: Ping An Insurance (Group) Co, China’s largest insurer by market value, is gearing up for an initial public offering of its OneConnect unit that could value the financial management portal at about US$8bil, according to people familiar with the matter.
Ping An is now targeting to list OneConnect in Hong Kong as soon as the second half of this year, one of the people said, asking not to be identified because the information is private. The share sale could raise roughly US$1bil, according to the people.
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