According to people with the knowledge of the matter ZhongAn, an online-only insurer has received approval for its initial public offering, IPO.
Sources not named by Reuters claimed that ZhongAn will be listing on the Hang Seng, Hong Kong.
The company plans to start gauging investor appetite for the IPO, the largest by a financial technology (fintech) company in the city, as soon as Monday after receiving the nod from the listing committee of the Hong Kong stock exchange, added the sources.
The sources could not be named because details of the deal are not public.