SoftBank Vision Fund Invests in ZhongAn Insurance’s US$1.5 Billion Hong Kong IPO
Shanghai and Hong Kong – Paul Hastings, a leading global law firm, announced today that the firm advised SoftBank Vision Fund, one of the largest investment funds in the world that focuses on the global technology industry, in its approximately US$550 million investment in the US$1.5 billion Hong Kong initial public offering of ZhongAn Online Property and Casualty Insurance (“ZhongAn Insurance”), China’s first internet-only insurer.
SoftBank Vision Fund bought a minority stake in ZhongAn Insurance, acting as a key cornerstone investor. The IPO is the largest ever by a financial technology company in Hong Kong.
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