Practice Areas - Equity Capital Markets Law Firms and Lawyers
| Deal Date: | 02-04-2015 | Practice Area: | Equity Capital Markets |
| Deal Title: | PICC Property and Casualty Co Secondary Share Sale | Industry: | Nonlife Insurance |
| Description: |
Herbert Smith Freehills advised Goldman Sachs and Morgan Stanley as lead placing agents on the USD500 million sale of 256,000,000 secondary shares in the share capital of PICC Property and Casualty Co. Ltd. by American International Group Inc., the largest commercial insurer in the U.S.
The secondary share sale represented 5.5% of the issued capital of PICC Property and Casualty, the non-life insurance arm of Chinese insurance company PICC Group. After the sale, AIG remained the largest shareholder in the company, with a position of approximately 1.2 billion shares, representing 8.2% of the total issued share capital of PICC Property and Casualty.
The Herbert Smith Freehills team on the deal was led by Hong Kong Corporate Partners Matt Emsley and Kevin Roy, together with Senior Consultant Victor Ding and Senior Associate Jackie Chen.
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| Financial Center: | Hong Kong | Value: | 100.01-500.00 |
| Advised Party: | Lead Manager | Law Firm | Herbert Smith Freehills |
| Issuer Jurisdiction - | China | Listing Jurisdiction - | Hong Kong |
| Classification: |
Secondary Offerings and Placings Hong Kong Stock Exchange: |
Lawyer | Matt Emsley |
