PICC rose sharply on its debut on Friday as retail investors who missed out on shares in its US$3.1 billion IPO, the largest in Hong Kong in two years, scrambled for a piece of the the Chinese state-owned insurer.
People’s Insurance Company (Group) of China, as the company is formally called, priced the biggest initial public offering in Hong Kong in two years at HK$3.48 per share, after marketing the deal in a range of HK$3.42-HK$4.03.
In early trade, PICC was trading at HK$3.67, up 5.5 per cent, and the benchmark Hang Seng index had gained 0.2 per cent. Reported by S.China Morning Post 1 hour ago.
People’s Insurance Company (Group) of China, as the company is formally called, priced the biggest initial public offering in Hong Kong in two years at HK$3.48 per share, after marketing the deal in a range of HK$3.42-HK$4.03.
In early trade, PICC was trading at HK$3.67, up 5.5 per cent, and the benchmark Hang Seng index had gained 0.2 per cent. Reported by S.China Morning Post 1 hour ago.