China Re receives approval for IPO from Hong Kong's stock exchange
Posted On: Sep. 18, 2015 12:00 AM CSTChina Reinsurance (Group) Corp. has won approval from Hong Kong's stock exchange for an initial public offering, reports Bloomberg, citing unnamed sources.
The sources said that the reinsurer is looking to raise around $2 billion in the share sale, adding that the IPO may start in October. An exchange filing showed that China Re accounted for 33.1% of China's property/casualty reinsurance market in 2013.