CPIC in vogue as latest private block raises $1.3bn
China Pacific Insurance Co raised HK$10.395bn ($1.34bn) over last weekend in a private placement to Norway’s central bank and two sovereign wealth funds, Government of Singapore Investment Corp (GIC) and Abu Dhabi Investment Authority.
Chinas state-owned companies are increasingly turning to private placements to raise capital, avoiding a rule that forces them to give 10% of the equity issued to Chinas state social security fund, an amount that needs to be donated in all public deals, said a banker not on the ...
Already a subscriber? Login
Further Reading
-
Senior Debt
Tatra Bank debuts green programme
-
People & Markets
China policy and markets round-up: Q1 GDP growth breaks record, Beijing toughens stance on local government hidden debt, Luckin secures $250m investment deal
-
ABB/Block Trades
Kakao chairman trims stake after charity pledge
-
Corp
Tencent nails $4.15bn bond