Anbang seeks bank IPO help

Insurance group asks for proposals on 2017 initial public offering by the end of the week

Anbang Insurance Group Co, the Chinese owner of New York's Waldorf Astoria hotel, has asked banks to pitch for a role in a planned Hong Kong initial public offering next year, according to sources who did not want to be identified.

The Beijing-based insurance giant asked investment banks to submit proposals by the end of this week, said one source.