People's Insurance Co of China (PICC), one of the mainland's largest insurers, is the latest mainland major planning to go public in Hong Kong.
Chairman Wu Yan said he expected to complete a massive fund-raising this year. Reuters quoted him as saying the insurer was speeding up preparations for a dual Hong Kong-Shanghai listing.
Analysts say the cash-strapped insurer is expected to raise up to US$6 billion in the dual listing.
In preparing for the listing, PICC joins other mainland companies such as Shanghai Fosun Pharmaceutical that are reviving their initial public offering plans on the Hong Kong stock market after calling them off last year.
PICC began a 'pre-roadshow' in July to test demand for a dual listing but had to delay the fund-raising because of a debt row with state-owned flagship newspaper People's Daily.
The insurer has appointed China International Capital Corp as the lead manager for its share sales.
Wu said PICC would attract investors from Europe, America and Asia to become strategic investors for the fund-raising.