(From Xinhua Financial News - China Focus)
HONG KONG (AFX-ASIA) - China Life Insurance Co Ltd will launch its initial public offering in Hong Kong today by selling 323.5 mln H-shares to retail investors at 2.95-3.61 hkd per share.
The IPO by China's largest life insurer is part of its global offering comprising 6.47 bln shares, of which 95 pct will be sold in the form of American Depositary Receipts (ADRs) exchangeable into H shares.
The 6.47 bln new shares, with a nominal value of 1 yuan each, comprise 91 pct primary shares issued by China Life Insurance with the remaining secondary shares sold by its parent China Life Insurance (Group) Co (CLIC). …