AllianzGI gets greenlight to buy 2% Guomin Pension stake

It will subscribe to approximately 228 million newly issued shares.

Allianz Global Investors (AllianzGI) has secured regulatory approval to acquire a 2% stake in Guomin Pension & Insurance Company Limited, marking the first time a foreign asset manager has invested in the company.

AllianzGI will subscribe to around 228 million newly issued shares in Guomin Pension, valued at around $39m. This transaction will increase Guomin Pension's registered capital to approximately $1.56b, as approved by the National Financial Regulatory Administration.

Guomin Pension, established in 2022, was launched by major Chinese financial institutions to support the development of the country's private pension market.

China’s third-pillar pension system is poised for significant growth, with its market size projected to reach $551.38b under the current regulatory framework by 2030. This figure could rise to $965.71b with the implementation of further reforms.

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