Nov 23, 2022 04:47 AM

FINANCE

Sunshine Insurance Wins HKEX Approval for $1 Billion IPO

By Wu Yujian and Denise Jia

What’s new: Private Chinese insurer Sunshine Insurance Group Co. passed a hearing for an initial public offering on the Hong Kong Stock Exchange, the HKEX said Monday.

The Beijing-based company won approval from China’s securities watchdog for its Hong Kong share sale. It was authorized to sell as many as 3.97 billion shares. Sunshine Insurance filed pre-listing documents with the Hong Kong exchange in April.

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