Stocks News
- Shanghai News
Date: 9-Jan-2007 Sources: (Shenzhen Daily)
THE yuan-denominated shares of China Life Insurance Co., the nation's biggest insurer, will start trading in Shanghai today.
China Life raised 28.3 billion yuan (US$3.6 billion) by selling 1.5 billion A shares, or 5.3 percent of its enlarged capital, last month. The domestic listing, the first by a Chinese insurance company, has drawn bids for about 49 times the amount of stock on offer. Investors such as China's National Social Security Fund, PICC Property & Casualty Co. and Baosteel Group Corp. have bought the issue. China Life shares already trade in Hong Kong and New York.
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