H Shares

PICC on Monday said it planned to raise 5.8 billion yuan in the rights issue of 930 million A shares at 4.30 yuan apiece and 418 million H shares in Hong Kong at HK$5.38 each, which would be a 47.25 per cent discount on its Monday closing price. Photo: Bloomberg

PICC to lift capital with 5.8b yuan rights issue

A planned rights issue would help PICC Property and Casualty, the mainland's biggest non-life insurer, to record faster premium growth and business expansion, analysts said.