China Pacific Regulatory News (CPIC)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

3 July 2020

China Pacific Insurance (Group) Co., Ltd.

Exercise of the over-allotment option

Exercise of the over-allotment option

China Pacific Insurance (Group) Co., Ltd. (the "Company") announces that UBS AG London Branch, acting as the stabilising manager in connection with the offering (the "Offering") of Global Depositary Receipts (the "GDRs") of the Company, has today exercised the over-allotment option (the "Over-allotment Option") granted by the Company in respect of 8,794,991 GDRs (the "Option GDRs"), representing approximately 8.5% of the number of GDRs initially available in the Offering (before the exercise of the Over-allotment Option).

The Option GDRs will be issued at the offer price of US$17.60 per GDR, raising additional gross proceeds for the Company of US$154.8 million.

Including the exercise of the Over-allotment Option, the final total size of the Offering is US$1,965.4 million (111,668,291 GDRs, with each GDR representing five A shares of the Company, each with a fully paid nominal value of RMB1.00, representing approximately 8.9% of the total number of the Company's A Shares outstanding prior to the Offering).

Settlement of the Option GDRs is expected to take place on 9 July 2020.

Corporate Information

· China Pacific Insurance (Group) Co., Ltd. is a joint stock company established under the laws of the People's Republic of China (the "PRC") with limited liability.

· The Company's registered office is located at 1 South Zhongshan Road, Huangpu District, Shanghai, the PRC.

· For further information, please visit the website of the Company at http://www.cpic.com.cn/ir/, or contact:

CPIC Investor Relations

Jessie Xie

Tel: +86 21 5876 7282; +86 21 3396 6225

Email: ir@cpic.com.cn; xieling-005@cpic.com.cn

Porda Havas International Finance Communications (Group) Holdings Company Limited (media relations) 

Hong Kong, China

Bunny Lee/ Iris Luo

Tel: +852 9041 3820/ +852 5517 4514

Email: bunny.lee@pordahavas.com/ iris.luo@pordahavas.com

Shanghai, China

Claire Li

Tel: +86 138 1777 7047

Email: claire.li@pordahavas.com

Important legal information

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan, South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement is not an offer to sell, or solicitation of an offer to buy, acquire or subscribe for any securities to any person in the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction in which such offer or solicitation would be unlawful. The GDRs have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any State or other jurisdiction of the United States and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable state or local securities law. The Company has not intended and does not intend to make any public offer of securities in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements.

In any member state of the European Economic Area (the "EEA") (each, a "Relevant Member State"), this announcement and the Offering are only addressed to and directed at persons who are "qualified investors" ("Qualified Investors") within the meaning of the Regulation (EU) 2017/1129 (the "Prospectus Regulation").

In the United Kingdom, this announcement and any offer if made subsequently is only addressed to and directed at Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) high net worth entities who fall within Article 49(2)(a) to (d) of the Order, or (iii) to whom it may otherwise lawfully be communicated (all such persons being referred to as "relevant persons"). This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, Qualified Investors and other persons who are permitted to subscribe for the GDRs described herein pursuant to an exemption from the Prospectus Regulation and other applicable legislation, and will only be engaged in with such persons.