IPO Preview: PICC and the Powl

Amid tense Sino-Japanese relations, the US$3.1 billion initial public offering of mainland insurer PICC Group is all the more remarkable in that it included a rare tranche solely targeted at Japanese investors.

While the exact allocation hasn't been disclosed, the equivalent of US$220 million is thought to have been allotted to them, the offer also said to have been well subscribed.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1100003/ipo-preview-picc-and-powl