SHANGHAI - New China Life, the Chinese joint venture of Swiss insurer Zurich, is aiming for a dual-listing in Shanghai and Hong Kong this year, the official Shanghai Securities News reported on Wednesday, citing unidentified sources.
The listings will likely happen in the third quarter of the year, the newspaper said.
New China Life was initially planning to submit its IPO application to the Hong Kong stock exchange in March and if everything goes smoothly it may be able to complete the dual-listing in July, it said.
The Chinese insurer has appointed UBS and China International Capital Corp as joint coordinator for its listing plans, the Shanghai Securities News said.
New China Life was not immediately available for comment.
Apart from Zurich, Central Huijin Investment Co, the domestic investment arm of China's sovereign wealth fund as well as top steel company Baosteel also own a stake in New China Life.
