Zhong An plans to sell up to 10% stake ahead of IPO

Zhong An plans to sell up to 10% stake ahead of IPO

100 Yuan notes are seen in this illustration picture in Beijing November 5, 2013. REUTERS/Jason Lee/Files

Zhong An Online Property and Casualty Insurance plans to sell 5-10percent of the company to a couple of strategic investors, to raise up to 10 billion yuan ($1.45 billion), ahead of a planned initial public offering in mainland China, according to four people with direct knowledge of the matter.

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