New China Life is looking to obtain approval from the China Securities Regulatory Commission (CSRC) for its $4 billion initial public offerings (IPOs), Reuters reports. China’s third largest life insurer is seeking to launch its IPO in Hong Kong and Shanghai.
The CSRC is expected to review next week the IPO application of New China Life, in which Swiss insurer Zurich Financial holds a stake. The regulatory body had declined approvals for new listings in 2008 due to the global financial crisis.
Click here for the story from Reuters.