Deals
Anbang Prompts Soul-Searching as Morgan Stanley, UBS Divided
- Acquisitive Chinese insurer seeks pitches for life unit’s IPO
- Banks weigh dearth of large deals against disclosure questions
This article is for subscribers only.
One of Hong Kong’s potentially most lucrative initial public offerings in recent years has bankers facing some difficult choices.
Anbang Insurance Group Co., known for its aborted $14 billion attempt to buy Starwood Hotels & Resorts Worldwide Inc., has asked investment banks to pitch for roles on an IPO of its life insurance assets. While the recent dearth of large share sales would normally make it a no-brainer for bankers to participate, Anbang’s request has prompted some soul-searching among the top IPO underwriters.