Reporting by Julie Zhu; Additional reporting by Elzio Barreto; Editing by Michelle Price and Christopher Cushing China 's first purely online company , Zhong An Online Property and Casualty Insurance , is aiming to raise at least $ 1bn in a Hong Kong initial public offering ( IPO ) in the second half of the year , according to a source with knowledge of the matter . In October , Zhong An invited Credit Suisse , UBS and JPMorgan to lead a mainland listing , however it opted to revert to a Hong Kong listing due to delays in the Chinese regulatory process .
China 's first purely online company , Zhong An Online Property and Casualty Insurance , is aiming to raise at least $ 1bn in a Hong Kong initial public offering ( IPO ) in the second half of the year , according to a source with knowledge of the matter . In October , Zhong An invited Credit Suisse , UBS and JPMorgan to lead a mainland listing , however it opted to revert to a Hong Kong listing due to delays in the Chinese regulatory process .