Beijing (ANTARA News/Asia Pulse) - The China Pacific Insurance Co., the country's third largest life insurer, has won the green light from the Hong Kong Stock Exchange for a US$3.4 billion share float on the bourse.

The company received approval from China Securities Regulatory Commission Wednesday and would list up to 990 million shares in the overseas market, Saturday's China Daily reported.

"The Hong Kong listing will help the company step up its business expansion and compete with bigger domestic rivals like China Life and Ping An," the newspaper quoted Zhao Xinan, a Shanghai-based analyst with Northeast Securities as saying.
 

Source:
Business in Asia Today - Nov 30, 2009
published by <a href="http://www.asiapulse.com">Asia Pulse</a>