Taiwanese insurer Fubon Life to invest up to $500m in Alibaba's HK listing

Taiwanese insurer Fubon Life to invest up to $500m in Alibaba's HK listing

Photographer: Gilles Sabrie/Bloomberg

Fubon Life Insurance, an insurance unit of Taiwanese financial conglomerate Fubon Financial, Monday said that it plans to spend up to $500 million to purchase Alibaba Group’s new shares when Asia’s most valuable company lists in Hong Kong.