Zhongan says favors IPO in Hong Kong

Zhongan Online P&C Insurance Co, with more than 400 million customers, is targeting an initial public offering in the next 12 to 18 months with a preference to list in Hong Kong.

The company would consider a pre-IPO private funding round to attract global investors and provide strategic value to its insurance business, Chief Financial Officer John Bi said.

The company hasn't ruled out the United States as a listing venue, and is currently studying both markets, he added.