PICC Group’s A-Share IPO Will Boost Capital Position for Its Life Business
PICC Group has announced that the company plans to apply for an IPO on the Shanghai Stock Exchange, which is now pending shareholder and regulatory approval. The total new issuance will not exceed 4.6 billion shares, or 10.8% of current outstanding shares. The IPO is expected to complete within 12 months once shareholder approval is obtained. As no detailed plan has yet been disclosed, we retain our HKD 3.50 fair value estimate. The upcoming A-share IPO will boost the company’s capital position,...People's Insurance Company of China, through more than 10 subsidiaries, is engaged in property and casualty insurance, life insurance, health insurance, asset management, insurance brokerage and trust, fund, insurance financial industry cluster and integrated business group structure for the public and agencies Group provides comprehensive insurance and financial services.
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