Wasting no time since receiving regulatory approval at the end of last week, Ping An Insurance Group will open the order books for its long-awaited Rmb26 billion $4.2 billion domestic convertible bond on Friday.
The deal, which is set to become the largest CB issue in China’s domestic market this year, comes just days after the Chinese government announced a number of reforms that are viewed to be beneficial to the country’s life insurance sector, such as a relaxation of the one-child policy.
Although much still depends on the implementation, Chinese insurance companies have seen a sharp spike in their share prices on the back of this...
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