Great Eastern raises $762.8m by paring stake in New China Life Insurance

Shareholders will bag $123m from the sale.

Great Eastern holdings has raised $762.8m by selling 85 million shares in Hong Kong-listed New China Life Insurance.

Following the transaction, GEH has pared its stake in New China Life from around 10% to just 1.79%.

The profit attributable to shareholders from the sale amounts to roughly $123m. Proceeds from the sale will be used for portfolio reallocation.

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