$1.5 Billion Hong Kong IPO initiated by China’s largest insurer

The largest online insurer in China, ZhongAn Online P&C Insurance Cohas been taking orders for a Hong Kong Initial Public Offering to raise around $1.5 billion. As per the terms of the deal, the Company is offering 199.3 million new shares at HK$53.70 to HK$59.70 apiece and Japan’s SoftBank Group Corp., as the sole cornerstone investor has agreed to purchase 71.9 million shares, worth as much as $550 million.