Slaughter and May Advises China Re on $2B IPO
The listing of China's only domestic reinsurer was among Hong Kong's largest offerings this year.
October 27, 2015 at 02:08 AM
2 minute read
Slaughter and May acted for state-run China Reinsurance (Group) Corp. on its $2 billion initial public offering in Hong Kong.
China's sole domestic reinsurer was among Hong Kong's largest IPOs this year, ranking fourth behind Huatai Securities Co.'s $5 billion in May, GF Securities Co. Ltd.'s $4.1 billion in April and Chinese state-owned Huarong Asset Management Co. Ltd.'s $2.3 billion last week.
Beijing-based China Re, which began trading on Monday, said it would use the money to bolster its capital position and grow its existing businesses. Most of its operations take place within China in the property and casualty and life and health reinsurance sectors, but the company sells primary insurance as well and does asset management.
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