China Pacific Insurance: To Raise Around HK$10.395 Billion Via H-Share Private Placement
September 09 2012 - 8:16PM
Dow Jones News
By Esther Fung
SHANGHAI--China Pacific Insurance (Group) Co. (2601.HK) said
Monday it is raising around HK$10.395 billion ($1.34 billion) in a
H-share private placement.
The three subscribers to the private placement offering are
Singapore's sovereign wealth fund, Government of Singapore
Investment Corporation, Norway's central bank Norges Bank and Abu
Dhabi Investment Authority, the insurer said in a statement on the
stock exchange.
The insurer said it plans to issue 462 million new H-shares at
HK$22.50 per share. The proceeds from the proposed placing will be
used to increase the capital base of the company and for business
development, China Pacific Insurance added.
Write to Esther Fung at esther.fung@dowjones.com
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