China's Ping an life seeks Hong Kong listing.China's second-largest life insurer moved to become the country's third significant insurer to go public outside mainland China by applying for a listing on the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. , government news sources said. People's Daily and Xinhua News Agency “Xinhua” redirects here. For other uses, see Xinhua (disambiguation). The Xinhua News Agency (Simplified Chinese: 新华社; Traditional Chinese: , both official news outlets for the Chinese government, said Ping An Life Insurance Co. applied to the Hong Kong Stock Exchange for an initial public offering that could raise about $2.2 billion. The insurer is aiming for an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. some time in May, the news organizations said. Ping An appointed Goldman Sachs, Morgan Stanley, HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) and BOC International--the latter an affiliate of the Bank of China--to handle the proposed offering, said People's Daily. U.K.-based banking group HSBC Holdings plc has a 10% stake in Ping An, which it bought for $600 million in October 2002. Goldman Sachs and Morgan Stanley have a combined stake of 13.7%, the news organization said. |
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