28 September, 2017
Skadden advised ZhongAn Online P&C Insurance Co., Ltd. ("ZhongAn Insurance") in its US$1.525 billion initial public offering of H shares on the Hong Kong Stock Exchange. ZhongAn Insurance, backed by Alibaba-affiliated Ant Financial, Tencent Holdings and Ping An Insurance; and with SoftBank Group as the cornerstone investor, is the first internet-only and largest online insurer in China. The listing marks the world's first "insuretech" public offering and is the largest technology IPO in Hong Kong this year. Trade in the shares commences on 28 September 2017.
The Skadden core team includes Hong Kong partners Julie Gao, Christopher Betts and Will Cai and Asia Pacific counsel Anthony Pang. For further information, please see ZhongAn Insurance's announcement here.
