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August 24, 2016

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Anbang invites bank bids for IPO

ANBANG Insurance Group Co is planning to list its life insurance business in Hong Kong and has invited investment banks to pitch for advisory mandates in coming weeks, people familiar with the matter said

Anbang, which earlier this year aborted a US$14 billion bid for Starwood Hotels & Resorts Worldwide Inc, has not set any timetable of the planned initial public offering, the people said. No other details of the deal could be immediately ascertained.

An external spokesman for Anbang declined to comment on the IPO plans. The sources declined to be named as the information is not public.


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