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China Life Group Seeks Hong Kong Listing Via Unit

  • Parent will move assets to listed unit, get stock in return
  • Listing would be key to plans to revitalize state-owned firm
General Views of Victoria Peak And Hotels In Hong Kong As Protests Deter Chinese Tourists
Photographer: Paul Yeung/Bloomberg
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China Life Insurance (Group) Co., the parent company of the nation’s largest life insurer, is planning a backdoor listing of its key businesses in Hong Kong as early as this year, people with knowledge of the matter said.

The Beijing-based conglomerate, which spans property and casualty insurance, banking and asset management, plans to inject its main assets into the listed China Life Insurance Co., which will in turn issue new shares to the parent, the people said, declining to be named because the plans are private.