Articles by L.S. Howard

China’s Zhong An to Sell 5-10% Stake to Raise Funds Before Planned IPO

Zhong An Online Property & Casualty Insurance plans to sell 5-10 percent of the company to a couple of strategic investors, to raise up to 10 billion yuan ($1.45 billion), ahead of a planned initial public offering in mainland China, …

Strong US Dollar Is Biggest Risk Ahead for 2017: Allianz’ El-Erian

Global growth could be better than expected in 2017, though many uncertainties remain that could impact expansion, with the biggest of them being steep gains in the U.S. currency, Allianz’s Mohamed A. El-Erian said on Monday. The outlook for the …

Alibaba’s Finance Unit, Ant, to Focus on Asia Expansion – Before Going Global

Ant Financial Services Group, the world’s biggest financial technology company, plans to focus its expansion plans in Asia before looking to go more global, a senior official said on Tuesday. Ant, Alibaba Group Holding Ltd.’s online finance arm, will offer …

Anbang’s Hong Kong IPO Should Lift Veil on Chinese Group’s Low Profile Backers

For investors and bankers wanting to know more about who’s behind Anbang Insurance Group, China’s second-largest life insurer, plans for a Hong Kong IPO next year should provide some answers. Anbang’s relentless pursuit of overseas deals, rapid financing and opaque …

Sources Say UBS Was Mystery Lender for Thai Group’s Ping An Deal

The mystery lender behind a Thai billionaire’s $9.4 billion purchase of a stake in China’s No.2 insurer was UBS, which offered the region’s fourth largest bridge loan ever and a complex financing package known to only a few involved, people …

AIG May Raise up to $6.5 Billion through AIA Share Sale – Sources

American International Group may raise as much as $6.5 billion from the sale of its remaining stake in AIA Group Ltd in Asia’s second-largest block sale ever, exiting a business the U.S. insurer started nearly 100 years ago. The sale …

AIG, Others to Take up Half of China PICC’s $3.6 Billion Hong Kong IPO

Chinese state-owned insurer PICC Group has secured pledges from American International Group (AIG) and other investors to buy about half of its up to $3.6 billion IPO, set to be the biggest in Hong Kong in two years. The long-awaited …

UPDATE: China’s PICC in Talks with AIG as Buyer for $4 Billion HK IPO

China’s PICC Group is in talks with American International Group and others to become cornerstone investors for its planned listing worth up to $4 billion, in what will be Hong Kong’s biggest IPO in two years. State-owned insurer PICC started …

China’s PICC Group to Raise up to $4 Billion in Hong Kong IPO

Chinese state-owned insurer PICC Group started meeting institutional investors in Hong Kong on Thursday to gauge demand for a listing worth up to $4 billion, braving a slump in equity deals with the city’s largest IPO in two years. People’s …

AIG Sells AIA Shares at Surpise Premium, Raises $2 Billion

American International Group Inc. said it raised $2.02 billion through the sale of a partial stake in its former Asian unit AIA Group Ltd, placing the shares at a surprise premium although analysts were disappointed at the size of the …