> PICC Property & Casualty Co., Ltd. (PICC) aims to raise more than $1.6bn through its forthcoming IPO in Shanghai, the biggest mainland listing so far this year. The company, which runs China’s biggest non-life insurer, went public four years ago with a $3.1bn Hong Kong listing, and will be the fifth Chinese insurer listing in both Hong Kong and a mainland exchange. PICC has sought a domestic listing for some time, but delayed its plans because of changes in China’s listing rules and market turbulence.
The People’s Insurance Group of China (PICC) aims to raise more than $1.6bn through its forthcoming IPO in Shanghai, the biggest mainland listing so far this year. The company, which runs China’s biggest non-life insurer, went public four years ago with a $3.1bn Hong Kong listing, and will be the fifth Chinese insurer listing in both Hong Kong and a mainland exchange. PICC has sought a domestic listing for some time, but delayed its plans because of changes in China’s listing rules and market turbulence.