Allianz Bought USD855mn More China Pacific H-shares

BEIJING, January 11, SinoCast ? Germany Allianz, the largest insurance group in the world, on January 10, 2011 issued an e-mail, saying that it on January 8 bought additional about USD 855 million H-shares in China Pacific Insurance (Group) Co., Ltd. (SHSE: 601601 and SEHK: 2601).

The Germany insurance giant disclosed that a part of the additional shares bought this time was from The Carlyle Group, a global leading private equity firm. After the move, the holding of H-shares in the Chinese insurance firm held by the German giant grew to 240 million shares, making up 10.4% of the H-share captial stock of the latter and 2.8% of the capital stock of both A-shares and H-shares.

Earlier, the shareholder in December 2009 initially bought USD 150 million shares in the dual-listed company when the latter kicked off an initial public offering (IPO).