Chinese Internet insurer Zhong An Online Property and Casualty Insurance plans an up-to-$2 billion initial public offering in mainland China in 2016, IFR reported on Friday, citing people close to the deal. At $2 billion, the deal would be the largest-ever technology-related listing in mainland China and the biggest IPO since brokerage Guotai Junan Securities Co raised $4.8 billion last June, Thomson Reuters data showed.
Zhong An, China's first online-only insurer, has invited banks to pitch for IPO roles, according to IFR, a Thomson Reuters publication. The firm was founded in 2013 by Alibaba Group Holding Ltd Executive Chairman Jack Ma, Tencent Holdings Ltd Chairman Pony Ma and Ping An Insurance Group Co of China Ltd Chairman Ma Mingzhe.
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