ZhongAn Online IPO at HKD 59.70 and Raised $1.5 Billion in Capital
ZhongAn Online stock was priced at HKD 59.70, and raised $1.5 billion in capital. It is the first internet insurance business in China, and notable shareholders include Tencent, Alibaba and Ant Financial.
” ZhongAn Online Raised $1.5 Billion and IPO at HKD 59.70 “
It is listed on the Hong Kong Stock Exchange under the Ticker 6060.HK, and started trading on 29th September 2017. The closing price was HKD 63.45, a 6.2% increase from the IPO price. The stock was 393 times oversubscribed.
About ZhongAn Online
We are an online-only Insuretech company in China. Leveraging our technologies, we develop ecosystem-oriented insurance products and solutions in different consumption scenarios to better serve our customers. From our inception in October 2013 to December 31, 2016, we sold over 7.2 billion insurance policies and served approximately 492 million policyholders and the insured, ranking us the largest insurer in China by these measures during this period according to the Oliver Wyman Report. In addition, we are the largest online insurance company in China with GWP of RMB3,408.0 million in 2016. We experienced significant growth during the Track Record Period. Our GWP increased significantly from RMB794.1 million in 2014 to RMB2,283.0 million in 2015, and further to RMB3,408.0 million in 2016, and from RMB604.4 million for the three months ended March 31, 2016 to RMB1,030.4 million for the three months ended March 31, 2017. Our net premiums earned increased significantly from RMB712.2 million in 2014 to RMB1,921.5 million in 2015, and further 2016 to RMB3,225.4 million in 2016, and from RMB569.2 million for the three months ended March 31, 2016 to RMB886.8 million for the three months ended March 31, 2017.
Visit: ZhongAn Online
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