New China life insurance A+H speed to market price per share or 40

On April 21, internal Department confirmed one person familiar with reporters from Xinhua life insurance, new China life insurance last week submitted to the insurance application for listing, is awaiting approval. Following the news that, Xinhua life insurance plan by Shanghai A+H listing, raises funds is estimated to reach $ 3 billion to 4 billion. Not surprisingly, the fastest listed will be completed by the end of May. According to foreign media reports, Xinhua insurance recently submitted to the Hong Kong Exchange listing application form, after which, the HKEx will start hearings to consider company listing applications. Recommended reading insurance weekly: variable amount annuity pilot started Beijing Shanghai five city first wins insurance enterprises violations promotions penalty 500,000 insurance ring "Wang yawei" emerge surface exaggerated income does not to risk silver insurance disputes constantly should first to family "pillar" Shang foot insurance regardless of from lost insurance is zehui Shi Qiming jointly immortal see disk build boutique lecture industry persons on this message seems to does not surprised, "Xinhua listed just time problem. Following the news that is listed before the end of July, the new version changed to May. "Wait listed since December 2007 in Turbo in China a-shares after the IPO, list has suspended a three-year domestic insurance companies. New China life insurance is about to IPO news, one of the new China life insurance's internal Insider confirmed, "are you sure this is the case". In 2007, the "turn off the country's internal control of human events" post, Xinhua insurance once embattled, missed market opportunities. In May, the insurance fund $ 5.99/unit price, total cost of about $ 2.5 billion to take over new China life insurance stake, stake to 38.815% as the new China life insurance's largest shareholder. In 2009, Huijin company $ 8.71 per share, total price of $ 4 billion to take over all Xinhua life insurance stake held by the insurance fund. Although the "regain", but Xinhua insurance solvency ratios had been listed obstacles, following reports that once only 30%, far lower than for insurance regulatory requirements. Regulators on the basic requirements of insurance company solvency ratios above 100%. Said a life insurance company in China, "after the financial crisis, regulators implement prudential policy, also corresponding to the requirements of the solvency of insurance companies has increased, many companies are 150% positioning for the company's solvency targets. "In order to improve the solvency, Xinhua insurance at the end of 2010 to shareholders of $ 14 billion private placement to raise funds for supplementary capital, after the capital increase completed, its total capital reached $ 15.2 billion, solvency ratios will be of great relief. However, on the capital increase, China insurance regulatory Commission has not been announced final approval. Industry sources said, "If a is true, explains insurance regulatory Commission has agreed, but not yet released, leaving only one program only. "The offer price $ 40-50? Insurance analyst estimates, if the collection of funds in the US $ 3 billion to 4 billion, Xinhua life insurance listed price or will range between $ 40-$ 50 per share. The analyst also noted that, judging from the present market valuations, the Hong Kong stock market shares of insurance company premiums is significantly higher than the mainland market, this is mainly due to differences of investment environment, "A+H listed, should Hong Kong and the mainland between the unit and price, so, Xinhua in Hong Kong would be more willing to market multiple stocks. "In fact, whether previously shareholders increase capital, is also part of the new China life insurance transfers of ownership, the transaction price is" expensive ". October 2010, the Xinhua life insurance by the shareholders of $ 14 billion capital increase programmes shows that Xinhua life insurance held by the original shareholders according to their shares, per 12 subscription of 14 units of proportional participation in the capital increase, subscription price per share reached $ 10. In addition, in November 2010, China Beijing equity Exchange Bulletin shows that North Asia industry held by Xinhua life insurance company 5.7075% equity transfer, empark and CDT to 1.539 billion yuan, respectively, and the two companies of the group price competition and 3% equity of $ 1.4 billion. Worthy of note is, the original listing price of only $ 9.47 per share, last to premium of more than 3 times to complete the transaction, reached $ 42.75 per share and $ 43.09. Insurance data show 2010 Xinhua life insurance the original insurance premium revenue of 93.643 billion yuan, ranking third in the national life insurance company.