Chinese Internet Insurer Selects Credit Suisse, JP Morgan, UBS to Sponsor HK IPO
Zhong An Online Property and Casualty Insurance has tapped three banks as sponsors of $2 billion initial public offering in Hong Kong. Backed by Chinese internet companies Tencent Holdings Ltd and Ant Financial, Zhong An picked Credit Suisse, JP Morgan, and UBS to lead the offering, which is expected to take place in 2017.
“Zhong An Online Property and Casualty Insurance has tapped three banks as sponsors of $2 billion initial public offering in Hong Kong.”
The Zhong An listing would come as China’s biggest peer-to-peer lending platform, Lufax, is also looking to go public in a $5 billion deal. Lufax, which is backed by Ping An Insurance Co of China Ltd is in talks with four investment banks including Citigroup and Morgan Stanley to lead its listing.
About Zhong An Online Property and Casualty Insurance
Zhong An Online P&C Insurance Co., Ltd. offers online insurance services. The company offers e-commerce, mobile payment, and financing guarantee for Internet businesses and users. The company was founded in 2013 and is headquartered in Shanghai, China.
Visit: Zhong An
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