Ping An Insurance (Group) Co., China's second-biggest insurer, may raise 20 billion yuan (2.5 billion US dollars) in a domestic share sale in the first half of next year, Bloomberg reported, citing market sources. Ping An, led by Chairman Peter Ma, wants capital to make acquisitions to build a financial services group spanning insurance, banking, securities and asset management. The company, which in July agreed to buy 89 percent of Shenzhen Commercial Bank for 4.9 billion yuan (612 million US dollars), aims to garner two-thirds of income from banking and asset management in 10 years, said Bloomberg. ``Ping An needs money to finance takeovers,'' said Simon Hua, an executive director at BOC International in Shanghai who covers China's domestic stock market. ``Their clients are in China, so it makes sense to sell shares locally. A domestic listing can improve brand awareness.'' The three biggest Chinese insurers, PICC Property & Casualty Co. being the No. 3, are all listed in Hong Kong. Regulators want to lure companies such as China Life and PetroChina Co., Asia's biggest energy company, that are traded on overseas exchanges to domestic markets, now dominated by smaller, state-owned manufacturers.