MING AN PLANS HONG KONG IPO

China-based Ming An Insurance is preparing an initial public offering for the Hong Kong market by the year-end, according to reports in the Hong Kong Economic Times . Reports are unconfirmed but it is believed the value of the IPO could exceed HK$1bn. The insurer, owned by China Insurance Holdings, holds over HK$5.26bn in total assets (as of year-end 2005). Already this year China Insurance has embarked on a number of major transactions, selling a 29% stake in Ming An to Cheung Kong holdings for HK$600m and a 4.9% stake to China Insurance International for HK$100m.