Sunshine Insurance to list in Hong Kong

Sunshine Insurance has applied to list in the Hong Kong exchange and may endeavour to raise funds up to USD2 billion, which would could result in the biggest initial public offering of the year so far, according to two sources familiar with the deal.

The mainland Chinese insurer has submitted its application documents, which do not reveal the size or likely time frame of the IPO. However, the sources told the Post that the company would like to list its shares this year and raise between USD1 billion and USD2 billion.