Chinese online insurer ZhongAn to seek $11 billion valuation in HK IPO - IFR
The company will offer shares in an indicative range of HK $53.70 to HK$59.70 each, raising up to $1.5 billion in the deal, added IFR, a Thomson Reuters publication. The listing will consist of 15 percent of its enlarged share capital and value the entire company at between $9.9 billion and $11 billion.
ZhongAn declined to comment on the details of its IPO.
(Reporting by Fiona Lau of IFR; Additional reporting by Julie Zhu; Writing by Elzio Barreto)