(Adds source in headline)
Nov 27 State-run insurer People's Insurance
Company of China Group will issue about 30 billion yen ($365
million) of shares in Japan in conjunction with its initial
public offering on Dec. 7 on the Hong Kong Stock Exchange, the
PICC's plans to raise money in Japan come at a time when
business relations between China and Japan have deteriorated
sharply after Japan bought a few uninhabited islands in the East
China Sea that are claimed by both countries.
Daiwa Securities Co Ltd will be the lead
underwriter for PICC's Japanese offering, the Nikkei said.
Separately, Tokio Marine Holdings Inc will invest
about 4 billion yen, the daily said.
($1 = 82.1200 Japanese yen)
(Reporting By Pallavi Ail in Bangalore)