Zurich Insurance is to sell the remainder of its stake in New China Life, becoming the latest western financial company to sell down its Chinese investment.
In a statement yesterday, the Swiss group said it was selling 292.5m shares, equivalent to 9.4 per cent of the total issued share capital of New China Life.
Zurich said that the shares has been priced at HK$25 each, valuing the stake at $943m.
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