Carlyle-backed China Pacific taps sovereign funds
China Pacific Insurance, a portfolio company of The Carlyle Group, has sold HK$10.4 billion ($1.3 billion) in new shares to Government of Singapore Investment Corp. (GIC), Norges Bank and Abu Dhabi Investment Authority (ADIA).
China's third-largest insurer said in a statement to the Shanghai Stock Exchange that it would sell 462 million H-shares through a private placement. The issue is priced at HK$22.5 per share, a 2.6% discount...
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