At 9 a.m. London time (4 p.m. Beijing time) on June 17, 2020, the Global Depositary Receipt (GDR) of China Pacific Insurance (Group) Co., Ltd. (CPIC), a listed company (stock code: 601601) on the Shanghai Stock Exchange (SSE), was successfully listed on the London Stock Exchange (LSE). Overseas investors have been active in subscribing for the CPIC GDR. The issue price is US$17.60 per GDR unit (equivalent to 90.1% of the average closing price of the underlying stock in the 20 trading days prior to the pricing base date), raising US$1.8106 billion in total.
On the same day, the SSE and the LSE held a listing ceremony for the CPIC GDR through a video link. An SSE personnel in charge said that the cooperation between the capital markets in Shanghai and London would be further strengthened, the two-directional launching of the Shanghai-London Stock Connect business would properly move forward, and that mutual benefits and win-win results for both sides would be effectively achieved.