Name: China's CPIC boosts IPO market with $1.8 billion London listing
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China's CPIC boosts IPO market with $1.8 billion London listing

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By , LONDON (Reuters) - Shares in China Pacific Insurance Co (CPIC) rose on their London debut on Wednesday after the company completed the largest fund raising on the London Stock Exchange in three years, sparking hopes of a revival in the market for initial public offerings.This makes it the biggest fundraising exercise in London since AIB in June 2017, according to a London Stock Exchange official. The GDRs were up 2% at $17.96 at 12.00 GMT.“The listing will support our expansion into new markets and facilitate the company in introducing high-quality investors around the world,” said Kong Qingwei, chairman and executive director at CPIC.“A lot of investors are sitting on cash and looking to invest, so the market backdrop as a whole is surprisingly good, albeit fragile,” said a source involved in the transaction.“This does open up the September window if we take some of the best practice on video conferencing and shorter roadshows from recent deals,” he added.The scheme has been hit by delays, most recently after China pulled the plug on new listings in December due to political concerns. They changed stance earlier this year.Reporting by Huw Jones and Abhinav Ramnarayan; Editing by Tom Arnold, Mark Potter and Emelia Sithole-MatariseOur Standards:

By , LONDON (Reuters) - Shares in China Pacific Insurance Co (CPIC) rose on their London debut on Wednesday after the company completed the largest fund raising on the London Stock Exchange in three years, sparking hopes of a revival in the market for initial public offerings.This makes it the biggest fundraising exercise in London since AIB in June 2017, according to a London Stock Exchange official. The GDRs were up 2% at $17.96 at 12.00 GMT.“The listing will support our expansion into new markets and facilitate the company in introducing high-quality investors around the world,” said...

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China's CPIC boosts IPO market with $1.8 billion London listing

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