Chinese insurer PICC soars on Hong Kong debut
- Published: 7 Dec 2012 at 09.47
- Online news: World
Chinese insurer PICC surged Friday on its Hong Kong trading debut, as the city's biggest share sale this year provided an upbeat end to a weak year in the global IPO market.
People's Insurance Company group chairman Wu Yan smiles during the company's listing ceremony at the Hong Kong Stock Exchange in Hong Kong on December 7, 2012.
The state-owned firm's stock climbed 6.9 percent to close at HK$3.72 -- at one point jumping almost eight percent -- on its first trading day after raising $3.1 billion in its initial public offering
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