State-owned China Re has raised $2bn from investors as part of its Hong Kong IPO, securing a valuation at the top end of its indicative range, according to reports.
The IPO was due to price on Friday (16 October) and over the weekend Reuters reported that the reinsurer was raising the funds at the top end of its HK$2.25-HK$2.70 ($0.29-$0.35) indicative pricing range.
At HK$2.70 China Re, which has raised 13.7 percent of its enlarged share capital, has been valued.
