May 28, 2015 / 8:08 AM / 2 years ago

China's Taikang Life taps CICC, Goldman, C.Suisse for $3 bln HK IPO-IFR

HONG KONG, May 28 (Reuters) - Chinese insurer Taikang Life Insurance has appointed three banks to help manage a planned Hong Kong initial public offering of about $3 billion slated for the fourth quarter of 2015, IFR reported on Thursday, citing sources familiar with the plans.

Taikang Life, in which Goldman Sachs owns a minority stake, mandated China International Capital Corp (CICC), Credit Suisse and Goldman as joint sponsors for the IPO, said IFR, a Thomson Reuters publication.

Taikang Life did not immediately respond to a Reuters request for comment on the IPO plans.

The deal would follow a series of share sales by Chinese brokerages, banks and insurers in Hong Kong that is set to make 2015 the busiest year for the financial services sector since 2010.

Huatai Securities Co Ltd last week raised about $4.5 billion, pricing its Hong Kong share offering on top of expectations. (Reporting by Fiona Lau of IFR; Additional reporting by Engen Tham in Shanghai; Writing by Elzio Barreto; Editing by Anand Basu)

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