The Beijing financial Assets Exchange on Monday said that New China Insurance (NCI) is planning to sell its 24 per cent stake in a company established for an expansion project of Beijing Hotel held by NCI.
Previously, it was reported that the insurance company was planning to conduct an initial public offering (IPO) in Shanghai and Hong Kong to raise about US$4 billion, and the insurer was expected to complete its A- and H-share listings inbefore October.
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