Online-only insurer Zhong An plans Hong Kong IPO in July
Insiders have told the China Times that the country's first online-only insurance company, Zhong An, could list shares in Hong Kong as soon as next month. The Shanghai-based firm — which was co-founded by Ant Financial, the financial services affiliate of billionaire Jack Ma's Alibaba empire — is expected to sell $2bn of shares. The company, also backed by Tencent and fellow Chinese insurer Ping An, will reportedly sell a stake of between 5% and 10% before the flotation. 

Shanghai-based Zhong An was founded in 2013 by Alibaba’s executive chairman Jack Ma, Tencent’s chairman Pony Ma Hua-teng, and Ping An Insurance’s chairman Ma Mingzhe (pictured). Photo: Oliver Tsang