PE-backed Taikang Life looks to IPO within three years

Citing the Shanghai Securities News, Reuters reported that Chen will not consider a listing until Taikang is one of the top four players in the industry. Sources have previously suggested that Taikang was considering an IPO by the year's end, though that timing appears premature.

Taikang's growth ambitions come during an active time for China's insurance players. Earlier this month, reports surfaced that the country's top insurer, China Life, had been granted a license to raise a private equity fund. Also in August, The Carlyle Group made its third sell-down in China Pacific Insurance (CPIC), raising around $990 million. The $3.6 billion accumulated from the three sell-downs has put the private equity firm on course for one of its largest ever cash exits globally.

Taikang itself had been a target for private equity earlier this year. In May, a consortium led by Goldman Sachs clinched the 15.6% stake purchase in Taikang owned by France's insurance giant AXA, for nearly $1 billion, besting KKR, Blackstone and Temasek Holdings. Singaporean sovereign wealth fund GIC was said to have joined Goldman in its bid.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Financing
• Goldman Sachs
• GIC Private