China has in recent years nurtured a batch of unicorns technology start-ups of at least $1 billion in value. The time is coming for these companies to go public.
Leading the race for a public listing is Zhong An Insurance, China’s first online-only insurance firm. With an operating history of three years, the online insurer has already reached an estimated market value of Rmb55 billion $8 billion, and it may further rise ahead of its expected listing in 2017.
Zhong An was able to achieve such a chunky valuation not just because of its high-profile financial backers including Tencent, Ant Financial, Ping An...
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