ZHANGAN FILES FOR IPO IN HONG KONG

Chinese internet insurer ZhongAn is planning an initial public offering (IPO) in Hong Kong valued at around $1.5bn. According to media reports, the non-life insurer expects to list via an IPO at the end of the year. The company had been weighing up an IPO in China or Hong Kong, but opted for the later because it had concerns for the timing of regulatory approval in China, according to Reuters.