Pacific Insurance prices $1.8bn London float of GDRs

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By Jonathan Breen
17 Jun 2020

China Pacific Insurance (Group) Co has raised $1.81bn from its listing of Global Depository Receipts, becoming just the second company to use the London-Shanghai Stock Connect scheme.

The company issued 102.9m primary GDRs in London, with each GDR representing five of its Shanghai Stock Exchange-listed A-shares and 8.2% of its existing equity capital.

Pacific Insurance offered the stock at $17.60 to $19.00 apiece, with the deal initially worth $1.81bn to $1.95bn. It was then priced ...

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