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Article: PICC PREFERS DOMESTIC STRATEGIC INVESTORS
- Article from:
- AsiaInfo Services
- Article date:
- July 16, 2009
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AsiaInfo Services
07-16-2009
PICC Prefers Domestic Strategic Investors
BEIJING, Jul 16, 2009 (SinoCast Daily Business Beat via COMTEX) -- People's Insurance Company (Group) of China (PICC) prefers domestic strategic investors more than the foreign investors during its overall restructuring, said President Wu Yan of the Beijing-based insurance group.
Having had a Hong Kong-listed subsidiary PICC Property and Casualty Company Limited (PICC P&C, 2328.HK), PICC is able to launch a dual listing at an appropriate time, said market analysts. Still, PICC responded that it has no exact timetable for a listing yet.
As of the end of this June, the group had total assets of over CNY 270 billion, a ...