China Pacific raises $3.1 billion as Hopu anchors Carlyle exit
The Hong Kong IPO of China Pacific Insurance raised $3.1 billion in the world’s seventh largest listing of 2009, securing roughly a 5x profit for the Carlyle Group on its total investment of around $800 million between 2005 and 2007.
Roughly 10.2% of the PRC’s third largest insurer was listed in an IPO priced around the middle of its target range, making Carlyle’s stake worth $4.7 billion, though Carlyle is under a one-year post-listing...
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