Bloomberg News has reported this morning that Chinese conglomerate Fosun International is planning an initial public offering for its reinsurance unit, Peak Reinsurance Company.
Bloomberg reports that sources told the news agency that Fosun is looking for investors for around $300 million of Peak Re’s shares in advance of an IPO.
Fosun owns around 87% of Peak Re, so will likely see the opportunity to take on board more investors in the reinsurer, which could help to boost its valuation if or when an IPO offering is made.
Peak Re could be attractive investment for reinsurers without much of a footprint in Asia, so the fact a chunk of its shares are being shopped around (reportedly) may receive a lot of attention.
