CPIC revives HK public float plan

China Pacific Insurance (Group) Co Ltd (CPIC), the country's third-largest life insurer, said on Friday it has revived its plans to float an initial public offering on the Hong Kong bourse, which analysts say could raise at least 23.5 billion yuan.

The insurer had abandoned its plans to list on the Hong Kong bourse last year due to the prolonged bearish trend in the markets. It now plans to seek shareholders' approval for the float on August 31.

China Pacific anticipates that the HK listing would help accelerate business expansion and help catch up with rivals China Life and Ping An, experts said.