China Re IPO delayed

The regulator intervenes to postpone the planned $2.5bn stock market listing

State-owned reinsurer China Re’s plans to raise $2.5bn through stock offerings in the Hong Kong and Shanghai stock markets have been put on hold by the stock market regulator, industry sources said. The China Securities Regulatory Commission feels that the market, which is going through a volatile period, is not ready to absorb the shock of a huge offering that could dilute prices of other stocks.