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A source has said that China Reinsurance (Group) Corp. is set to launch an initial public offering in Hong Kong on Oct. 12 after it received strong feedback from investors for the deal, reported Reuters.
The source said that the reinsurer is looking to raise up to $2 billion in the share sale. Thomson Reuters publication IFR had earlier reported that China Re is planning to offer 5.77 billion new shares in the IPO.