China Insurance to invest HK$280 million issue 78.5 million new shares to parent

China Insurance (0966) shares likely unmoved by company paying parent HK$522.4 million for 62.5% stake in Shanghai-based Tai Ping Life Insurance. Although Tai Ping offers prospect of "life insurance business throughout the mainland" , CI paying about 77% premium over Tai Ping's registered capital, and acquisition will make no profit contributions in short-term. For payment, CI will pay HK$280 million in cash and issue 78.5 million new shares to parent

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