Sunshine Insurance Sets Terms for $948 Million IPO

(Bloomberg) — Chinese insurer Sunshine Insurance Group Co. is seeking to raise as much as HK$7.4 billion ($950 million) in its Hong Kong initial public offering.

Beijing-based Sunshine Insurance started taking investor orders for about 1.15 billion new shares on Wednesday, according to its prospectus, which confirmed an earlier Bloomberg News report. The shares are marketed at between HK$5.83 to HK$6.45 apiece.