China's CPIC rises after US$1.8b London debut

The London-Shanghai Stock Connect scheme was launched in 2018 to allow Shanghai-listed companies to add a secondary listing in London and vice versa.

LONDON: Shares in China Pacific Insurance Co (CPIC) rose on their London market debut on Wednesday, in a boost for a stock exchange link-up between Britain and China designed to improve investment and trade relations between the countries.

CPIC said it had priced a $1.8 billion listing of global depositary receipts (GDRs) in London at $17.60 per share, making it the biggest listing on the London Stock Exchange this year so far.