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Taiwan-based Fubon Life to participate in Huifu IPO

Taiwan-based Fubon Life Insurance Co. Ltd. intends to participate in Huifu Payment Ltd.'s IPO on the Hong Kong stock exchange, Taipei Times reported.

The Shanghai-based payments service provider is expected to start trading June 15.

The insurer said it was drawn to Huifu because of the Chinese third-party payment industry's rapid growth and the payments service provider's profit outlook, according to the report.