Chinese online insurer ZhongAn received approval of Hong Kong stock exchange for $1 billion IPO

Almaty. September 8. Silkroadnews – Chinese online insurer ZhongAn received approval of the Hong Kong stock exchange for $1 billion IPO, Reuters reported.
“ZhongAn Online Property and Casualty Insurance Co Ltd, China’s first internet-only insurer, secured Hong Kong stock exchange approval for its planned initial public offering which could raise more than $1 billion, sources with direct knowledge of the deal said on Friday”, the report reads.
The company, as noted, plans to begin start assessing investors’ appetites for the IPO as soon as it formally receives the approval of the listing committee of the Hong Kong Stock Exchange.
The names of the sources could not by disclosed, the agency says, as the deal details are not public, and ZhongAn does not answer journalists’ requests for comments on the IPO plans.