China Pacific Insurance Gets Green Light for H-Share Private Placement
05 November 2012 - 11:24AM
Dow Jones News
SHANGHAI--China Pacific Insurance (Group) Co. (2601.HK,
601601.SH, CHPXY) said Monday it has gotten approval from the
Chinese securities regulator to raise around 10.4 billion Hong Kong
dollars ($1.34 billion) in an H-share private placement first
announced in September, according to a statement on the stock
exchange.
The placement will be used to increase the capital base of the
company and for business development, the company said in
September.
The three subscribers to the private placement offering are
Singapore's sovereign wealth fund, Government of Singapore
Investment Corp.; Norway's central bank, Norges Bank; and Abu Dhabi
Investment Authority, the insurer said in a statement on the stock
exchange.
Write to Chao Deng at chao.deng@dowjones.com
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