GIC Re files for IPO: report

India's government-owned reinsurer General Insurance
Corporation of India, or GIC Re, has filed for an initial public
offering of shares which could raise over $1bn.
According to Reuters, the company is set to sell a total of
124.7 million shares in the offering, consisting of 107.5 million
existing government stock and 17.2 million new shares.
The IPO is being managed by Axis Capital, Citi, Deutsche Bank,
HSBC and Kotak Investment Banking.
In a draft prospectus for the IPO, the carrier...