Anbang Insurance to invest in Datang Environment's Hong Kong IPO -IFR

Datang Environment Industry

01/11/2016 24:59

HONG KONG, Nov 1 (Reuters) - A unit of Anbang Insurance 
Group is among investors buying into Datang Environment Industry 
Group Co Ltd's up to $330 million Hong Kong initial public 
offering (IPO), according to IFR which cited a term sheet of the 
deal. 
    China's Datang Environment is offering 540 million shares, 
or about 18.4 percent of the company's expanded capital in a 
price range of HK$3.55 TO HK$4.74 per share, said IFR, a Thomson 
Reuters publication. 
    As cornerstone investors, Anbang will buy 120.5 million 
shares, while China Life Insurance Group Co Ltd  601628.SS  will 
invest $50 million. 
    Cornerstone investors would account for between 55.3 percent 
and 66.4 percent of the base offering, the terms showed. Book 
building is set to close on Nov.8 and the stock is set to trade 
from Nov. 15. 
    Datang, Anbang and China Life could not be reached for 
immediate comment. 
 
 (Reporting by Fiona Lau; Writing by Denny Thomas; Editing by 
Edwina Gibbs) 
 ((denny.thomas@thomsonreuters.com; +852 2843 6358; Reuters 
Messaging: denny.thomas.thomsonreuters.com@reuters.net)) 
 
Keywords: DATANG ENV IPO/