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. 

Zhong An Online Property and Casualty is expected to list its shares in Hong Kong as early as July or August to raise up to US$2 billion, according to recent media reports.

Zhong An, the first onli...