Latest news with #ZhongAn
Yahoo
08-07-2025
- Business
- Yahoo
ZhongAn Online raises HK$3.92bn in post-IPO equity financing
China-based ZhongAn Online P & C Insurance has completed its H share placement, raising gross proceeds of approximately HK$3.92bn ($500m). The transaction marks the first instance of equity financing for the company since its initial public offering in 2017. The placement involved the issuance of 215 million new H shares at a price of HK$18.25 per share, accounting for nearly 12.76% of the its enlarged share capital following the placement. The net proceeds from this equity financing are intended to drive the company's business development initiatives. Specifically, 60% of the funds will be allocated to the company's core insurance underwriting and asset management operations, with another 30% for investment in fintech innovations. The remaining 10% will be directed towards general corporate purposes. ZhongAn board of directors stated: "This successful placement is a transformative step in ZhongAn's evolution. The capital infusion empowers our dual-engine strategy—driving core insurance growth while scaling technology-driven solutions. 'Through disciplined deployment, we will further unlock synergies at the intersection of finance and technology, delivering sustainable value to stakeholders." ZhongAn is recognized as an "internet-based" InsurTech company in China, employing a "Insurance + Technology" strategy, enhancing its underwriting, distribution, and customer service capabilities. It was established in 2013, and subsequently listed on the Hong Kong Stock Exchange in 2017. As of mid-2023, ZhongAn has reportedly served over 500 million users and issued approximately 57.4 billion insurance policies. Additionally, the company operates in Southeast Asia, East Asia, and Europe, and spanning sectors such as banking, insurance, securities, high-end manufacturing, and Internet platforms. "ZhongAn Online raises HK$3.92bn in post-IPO equity financing " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
07-07-2025
- Business
- Yahoo
ZhongAn Online Completed US$500 Million H Share Placement to Fuel Strategic Growth
HONG KONG, July 7, 2025 /PRNewswire/ -- ZhongAn Online P & C Insurance Co., Ltd. ("ZhongAn" or the "Company"; HKEX: 6060) announced on July 4 the successful completion of its H share placement, raising gross proceeds of approximately HK$3.92 billion (US$500 million). This marks the Company's first equity financing since its 2017 IPO and signifies a major milestone in advancing its growth strategy. A total of 215 million new H shares were issued at HK$18.25 per share, representing approximately 12.76% of the Company's enlarged share capital. The placement achieved significant market recognition as the largest 100% primary placement globally by a fintech company in 2025 year-to-date; the largest primary placement by an insurance company in Hong Kong in the past decade; and the largest equity placement in Hong Kong's financial sector in the last three years. Net proceeds from the placement will strengthen ZhongAn's capital base to accelerate its business development: 60% will be used for its insurance underwriting and asset management businesses; 30% will be used to support its investment in fintech innovations; and the remaining 10% will be used for general corporate purposes. The Board of Directors of ZhongAn stated: "This successful placement is a transformative step in ZhongAn's evolution. The capital infusion empowers our dual-engine strategy—driving core insurance growth while scaling technology-driven solutions. Through disciplined deployment, we will further unlock synergies at the intersection of finance and technology, delivering sustainable value to stakeholders." The placement underscores robust investor confidence in ZhongAn's vision to redefine insurance and finance through digital innovation. About ZhongAn: As the first internet-based InsurTech company in China, ZhongAn redefines insurance with cutting-edge technology and innovative business models. The Company operates on a dual-engine "Insurance + Technology" strategy, embedding technology end-to-end across the insurance value chain. This deep integration empowers underwriting, distribution, and service innovation while unlocking new efficiencies. By leveraging users' digital lifestyles through proprietary platforms and ecosystem partners, ZhongAn delivers innovative, accessible insurance solutions tailored to evolving protection needs. Its ecosystem-centric approach creates sustainable value for users while redefining industry standards. Investor Relations Contact:ZhongAn Investor Relations Team: IR@ View original content: SOURCE ZHONGAN ONLINE P & C INSURANCE CO., LTD. 登入存取你的投資組合
