As the Joint Bookrunner and Joint Lead Manager, ABC International ("ABCI") successfully assisted the listing of the People’s Insurance Company (Group) of China Limited (“PICC”) on the mainboard of the Hong Kong Stock Exchange on December 7, 2012. The PICC’s IPO, with the total fund raised up to HK$27.6 billion, became the largest new listing by a Chinese company since Agricultural Bank of China’s public offering in 2010 and the biggest IPO in Hong Kong this year in term of fund raising size.

Despite of the recent volatile market conditions, the PICC IPO received encouraging responses in its global offering. PICC’s global offering received strong demands from institutional investors in the international placing tranche with several times over-subscribed and about 16.5 times over-subscribed in the retail tranche. The initial price range of the share was HK$3.42 to HK$4.08 and it was eventually priced at HK$ 3.48 per share. On the first trading day, PICC’s shares were actively traded with an intraday high of HK$3.76 per share and closed at HK$3.72 per share, representing an increase of approximately 6.89% above the issue price. Total trading volume was approximately 1,422 million shares, representing an aggregate turnover of approximately HK$5,245 million.

As one of the Joint Bookrunners and Joint Lead Managers, ABCI successfully secured two out of 17 cornerstone investors to PICC, including China National Machinery Industry Corporation and Fosun International Limited with an aggregate amount of US$95 million, along with a number of high quality anchor investors comprising of sovereign funds, insurance companies and high-end corporate and private investors.