China Pacific plans Hong Kong public float later this year

China Pacific Insurance (Group) Co Ltd, the country's third-largest life insurer, is planning to relaunch its Hong Kong initial public offering in the second half, an investment-banking source told China Daily yesterday.

The insurer, which tried to raise around 30 billion yuan from the Hong Kong bourse last year, has been in discussions with several investment banks to kick off the plan again, said the source.

"They are trying to float the Hong Kong IPO within this year, but that still depends on the market situation and investors' attitude about the pricing," the source said.