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China Pacific Insurance Group Co Ltd on Wednesday confirmed it intends to float global depositary receipts on the Shanghai-London Stock Connect segment of the London Stock Exchange.
The Shanghai-headquartered insurance firm plans to offer up to 113.2 million global depositary receipts, with each GDR representing 5 A shares in the company.
The offering will, therefore, represent 565.8 million A shares in Pacific Insurance, or 9 per cent of its total A shares.
China Pacific Insurance has opened order books on a planned London listing to raise between $1.99 . . .
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