China Life Close to A-Share Sale.

(From SinoCast China Financial Watch)

SHANGHAI, September 07, SinoCast -- China Life Insurance Co., Ltd. (2628.HK; LFC.NY) is in preparation for a public offering in the domestic stock market, with the cash raised to support future growth. The company's board of directors has approved of a proposal to issue not more than 1.5 billion Class A shares, which are denominated in the Chinese yuan and can be worth as much as CNY 20 billion. As China Life is already in a dual listing in Hong Kong and New York, the coming A shares are expected to account for 5.3 percent of its total capital stock The percentage of existing H shares would be reduced to 26.3 percent from 27.8 …