September 10, 2012 / 12:00 AM / 5 years ago

China Pacific Insurance plans HK$10.4 bln H-share placement

SHANGHAI, Sept 10 (Reuters) - China Pacific Insurance (Group) Co Ltd , one of the country’s top insurers, aims to raise HK$10.4 billion ($1.3 billion) through a Hong Kong H-share private placement to consolidate its capital base, it said in a statement on Monday.

The shares would be sold to the Government of Singapore Investment Corporation Private Limited, Norges Bank, or the Central Bank of Norway, and Abu Dhabi Investment Authority, China Pacific said in the statement.

China Pacific said it planned to issue 462 million H shares and price the shares at HK$22.5 each, compared with Friday’s close of HK$23.0 for H shares listed in Hong Kong.

The statement was published on the Shanghai Stock Exchange’s website, (Reporting by Lu Jianxin and Pete Sweeney; Editing by John Mair)

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