* Goldman, M.Stanley, UBS among banks added to PICC deal-IFR
* PICC to launch Hong Kong tranche ahead of Shanghai listing
* Deal would be biggest IPO in Asia-Pac so far this year
HONG KONG, May 28 (Reuters) - State-owned People's Insurance Company of China Group (PICC), one of China's largest insurers, added 14 banks to a group of institutions managing a planned Shanghai and Hong Kong dual listing worth up to $6 billion, IFR reported on Monday, citing three sources with knowledge of the plans.
Goldman Sachs, Morgan Stanley, UBS and 11 other banks were mandated to help underwrite the Hong Kong tranche of the IPO, valued at up to $3 billion, said IFR, a Thomson Reuters publication. China International Capital Corp. (CICC), Credit Suisse and HSBC had already won mandates as sponsors of the deal.
PICC will join a slew of Chinese banks and insurers raising funds to boost their balance sheets and meet regulatory requirements over capital adequacy ratios.
The deal would rank as the largest IPO in Asia-Pacific in 2012, a year marked by a slump in stock issuance as investors fled equity markets because of increased volatility caused by Europe's debt troubles.
In an unusual move, PICC will seek to complete the Hong Kong portion of the deal ahead of the Shanghai offering, to gain more flexibility in pricing the IPO, IFR added.
Most of the large dual listings in Hong Kong and Shanghai are marketed and priced simultaneously, as happened recently in deals from New China Life Insurance in December.
PICC, the parent of China's largest property insurer PICC Property & Casualty Co, plans to seek approval from the Hong Kong exchange for the deal on June 21, though the date could change, IFR said.
A PICC spokesman declined to comment.
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