CNinsure To Receive US$42.3 Mln Strategic Investment From Alltrust Insurance

(RTTNews) - Cninsure Inc (CISG), an insurance intermediary company in China, announced that on April 27, 2015, it entered into an agreement to bring in Alltrust Insurance Company of China Limited, or Alltrust Insurance, as a strategic investor.

Pursuant to the agreement, CNinsure said it will issue and sell 93,000,000 of its ordinary shares to Alltrust Insurance, for an aggregate purchase price of US$42.31 million, or $0.455 per ordinary share ($9.10 per ADS), which is the average closing price of the 20 trading days prior to the signing date of the agreement.

Upon completion of the transaction, Alltrust Insurance will hold 7.5% of CNinsure's share capital. Completion of the transaction is subject to customary closing conditions.