September 28, 2017 / 1:26 AM / a year ago

Chinese online insurer ZhongAn set to jump 16 pct in HK debut

HONG KONG, Sept 28 (Reuters) - Shares in ZhongAn Online Property & Casualty Insurance Co were set to open 16 percent higher in their trading debut on Thursday after China’s first internet-only insurer raised $1.5 billion in the IPO by a financial technology company in Asia.

The stock was indicated to open at HK$69.00, compared with the IPO price of HK$59.70. The benchmark Hang Seng index was poised to open flat.

ZhongAn priced the 199.3 million new shares on offer at the top of the IPO’s marketing range of HK$53.70 to HK$59.70 per share.

Reporting by Elzio Barreto; Editing by Edwina Gibbs

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