ZhongAn, China’s first online-only insurance company, announced an initial public offering in Hong Kong in which it plans to raise up to $1.5 billion for a potential valuation of $10 billion. The share sale will begin Monday morning with SoftBank Group (sftby, +0.70%) as a cornerstone investor with a 5% stake. The listing is expected to be one of the year’s largest technology offerings in Hong Kong.
The co-founders of ZhongAn include Jack Ma, the Chinese billionaire and executive chairman of Alibaba Group (baba, +0.94%), and Pony Ma (no relation), the chairman…