China Pacific to list in Hong Kong by Dec. 25

China Pacific Insurance (Group) Co. Ltd. is now in the last stages of preparing its listing on the Hong Kong Stock Exchange, hoping it will be listed before December 25, according to a report from the China Securities Journal Thursday.

According to the report, the company plans to offer less than 1 billion H-shares at the unit price of at least HK$23.52 per share and the funds raised from this offering will be used to boost the company's capital

But the investor relations official from the insurer did not confirm the information, saying, "We have not yet received such information. If we receive any information, we will announce it."

A Reuters report Thursday said that China International Capital Corp (CICC) has been appointed by China Pacific to be the lead underwriter for the sale.

The plan of listing on the Hong Kong market was approved by the company's board of directors on August 31, and on September 28, the insurer announced that it received approval from the China Insurance Regulatory Commission (CIRC). On October 28, the company announced the China Securities Regulatory Commission (CSRC) had accepted its application.

If all goes well, China Pacific can list on the Hong Kong Stock Exchange by the end of this year.

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