ZhongAn sets up $1.5bn Hong Kong IPO

Jun 30, 2017 • Robert Lavine

Ping An, Tencent and the Alibaba-affiliated Ant Financial jointly own 40% of the online insurance platform, and are set to exit in an offering that could take place this year.

China-based online insurance provider ZhongAn has filed for a $1.5bn initial public offering in Hong Kong that will provide exits to corporates Alibaba, Ping An and Tencent, International Financing Review reported today.

ZhongAn was formed in 2013 by internet group Tencent and insurance firm Ping An, which each hold a 12% share of the company, and e-commerce company Alibaba, which owns a 16% stake through its Ant Financial affiliate.

The company offers more than 300 insurance products through its online…

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