China Pacific Insurance Plans to Issue 125.73 Million Global Depository Receipts
June 02 2020 - 8:03PM
Dow Jones News
By P.R. Venkat
China Pacific Insurance (Group) Co. is planning to issue 125.73
million global depository receipts, which will be listed on the
London Stock Exchange.
The China Securities Regulatory Commission has given its
approval for such a move, China Pacific Insurance said late
Monday.
Swiss Re AG has agreed to come in as a cornerstone investors by
subscribing to a portion of the GDRs, China Pacific said.
The Swiss insurer will be subject to a three year lock-up once
it subscribers to the GDRs.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
June 02, 2020 19:48 ET (23:48 GMT)
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