(From South China Morning Post)
Byline: Christine Chan
China Life Insurance has inherited net assets worth 29.6 billion yuan (HK$27.49 billion) before a planned US$2.5 billion dual listing of 25 per cent of its shares in Hong Kong and New York, according to a filing to the US Securities and Exchange Commission.
The listing, which values China Life at about US$10 billion, will be the world's biggest initial public offering this year. China Life is attempting to raise almost four times the amount PICC Property and Casualty garnered from its listing in Hong Kong last month.
The asset injection from China Life's parent, China Life Insurance …