, Columnists
ZhongAn's One Worry
The online insurer's growth ultimately hinges on the ties forged, and maintained, with its big-name backers.
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ZhongAn Online P&C Insurance Co. is flying high, but what's the risk should its big-name backers, well, back off?
The online insurer's stock surged as much as 18.1 percent in Hong Kong Thursday after an IPO that was more than 100 times oversubscribed. Initial share sales in the city that have raised at least $500 million have risen an average 4.2 percent on their first day of trade, data compiled by Bloomberg show.