New China Life Placement
Swiss Re plans to raise around US$290m via selling all of its remaining stake in New China Life Insurance.This is not the first selldown by the company. It last sold a similar sized stake in Oct 2017, which we covered in our note, New China Life Placement - Picked the Bottom for Buying, Hopefully Not the Top for Selling.
That deal ended up doing well.
New China Life Insurance is a joint stock company based in the People's Republic of China. Co. is primarily engaged in provision of life insurance products and services to individuals and institutions through its national branch network. Co. maintains more than 1600 branches across the country, providing life insurance, health insurance, personal accident insurance and pension insurance services to 26.15 million individual customers and 64 thousand institutional customers. Co. manages and utilizes its insurance assets through its subsidiaries Asset Management Company and Asset Management Company (Hong Kong).
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
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