We are pleased to announce that on 9 December 2022, China Merchants Securities (HK) Co., Limited (“CMS (HK)”, a subsidiary of China Merchants Securities International Company Limited), acting as one of the Joint Bookrunners, Joint Lead Managers and Capital Market Intermediaries of Sunshine Insurance Group Company Limited (“Sunshine Insurance” or “the Company”, stock code: 6963.HK), successfully assisted the Company to commence trading of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEx”). A total of approximately 1.15 billion H shares are issued and offered under the Global Offering, at an offer price of [HK$5.83] per share, raising a total of approximately [HK$6.7 billion] (before the exercise of the over-allotment option) or [HK$7.7 billion] (assuming the over-allotment option is fully exercised).
Despite the current volatile capital market and global economic conditions, Sunshine Insurance resolutely pressed ahead with its IPO plan and successfully completed the offering in Hong Kong, becoming the only one insurance company listed in Hong Kong in recent 5 years, also being the 10th Chinese listed insurance company. As one of the Joint Bookrunners, CMS (HK) accompanied the Company to overcome difficulties along the way and contributed to the successful listing with the trust and support from the Company.
Leveraging our extensive project experience and in-depth understanding of the insurance sector, CMS (HK) assisted the Company to pinpoint its unique strengths as compared with its competitors, and to fully showcase its investment highlights to investors whose confidence was further boosted through our continuous and timely communication. By fully utilizing our integrated platform and valuable client resources, CMS (HK) selectively arranged top Chinese investors including long-only funds, mutual funds and strategic industrialist investors to meet with the Company and thus enabled them to have a better understanding of the Company’s business and operation, securing some of the early anchor order indications. Furthermore, CMS (HK) facilitated timely remittance of onshore funds through QDII channels, providing comprehensive services to support the Company and the investors and laying a solid foundation for the Company’s successful listing in the HKEx.
About Sunshine Insurance
Dedicated to value creation, Sunshine Insurance is a fast-growing, privately owned insurance group in the PRC that provides comprehensive solutions focusing on professional risk protection and diverse service offerings to its customers. The Company carries out its life and health insurance business mainly through Sunshine Life, offering approximately 140 products covering life insurance, health insurance and accident insurance. The Company carries out its property and casualty insurance business mainly through Sunshine P&C, offering over 4,000 property and casualty insurance products covering automobile insurance, accident and short-term health insurance, guarantee insurance, liability insurance, agriculture insurance and commercial property insurance. The Company primarily manages its insurance funds through Sunshine AMC.