ZhongAn changes its mind
Chinese online insurer ZhongAn abandoned its plans to pursue an initial public offering in either the US or Hong Kong. Recall: 4 months ago it was reported that the Chinese insurer is targeting an IPO within the next 12 to 18 months, either in the US or Hong Kong. That was then. This is now. Now it’s targeting an IPO in China. Bottom Line: ~$8 billion valuation.
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