October 30, 2017 / 11:51 AM / in 21 days

Swiss Re shops New China Life block

Oct 30 (IFR) - JP Morgan and Morgan Stanley are in the market today with a block of New China Life Insurance’s H-shares being sold on behalf of Swiss Re.

The banks are offering 75m shares, or 7.3% of the outstanding H-shares, at HK$47.20-$48.30 per share for potential proceeds of HK$3.622bn (US$464m).

The range suggests a discount of 3.5%-5.7% to today’s HK$50.05 close. (Reporting by Fiona Lau)

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