Sunshine Insurance Seeks Up to $950 Million in Hong Kong IPO (1)

Chinese insurer Sunshine Insurance Group Co. is seeking to raise as much as HK$7.4 billion ($950 million) in its Hong Kong initial public offering.

Beijing-based Sunshine Insurance started taking investor orders for about 1.15 billion new shares on Wednesday, according to its prospectus, which confirmed an earlier Bloomberg News report. The shares are marketed at between HK$5.83 to HK$6.45 apiece.

Sunshine Insurance’s IPO comes as issuers are taking advantage of an improvement in sentiment towards equities trading in the region. It’s been a slow year for Hong Kong’s IPO market. Companies have raised about $11.2 billion through first-time ...