China Pacific Insurance (Group) Co., Ltd. (CPIC) said it planned to restart its H-share issue in a statement released Friday.

According to a statement on the website of Shanghai Stock Exchange, the company has decided to float no more than 1 billion shares on the Hong Kong market.

The company's stock price on mainland's Shanghai bourse has gained 3.7 percent to 28.92 yuan (4.25 U.S. dollars) at the moment.