New China Life plans IPO
Private equity-backed New China Life is the latest financial behemoth in the PRC to eye a public debut, targeting an up-to $4 billion raise via a duel listing on the Shanghai and Hong Kong exchanges by the end of the year.
A source close to the deal confirmed to AVCJ that New China Life filed its listing application with the CIRC, and the company will likely offer 15-20% of its stake on a post-IPO basis. UBS has been hired...
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