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China Life shares set to soar up to 73% on debut

(Shanghai Daily)
Updated: 2007-01-08 10:53

Shares of China Life Insurance Co are expected to soar up to 73 percent on their Chinese mainland trading debut tomorrow, analysts said.

The shares of the mainland's biggest life insurer are likely to trade between 28.69 yuan (US$3.66) and 32.69 yuan each, said Wu Yonggang, an analyst at Guotai Jun'an Securities.

Workers are repairing China Life's brand label. Shares of China Life Insurance Co are expected to soar up to 73 percent on their Chinese mainland trading debut tomorrow and the shares of the mainland's biggest life insurer are likely to trade between 28.69 yuan (US$3.66) and 32.69 yuan each analysts said. [newsphoto]

His view is echoed by Erwin Sanft, head of China Research of BNP Paribas Securities (Asia), who said the shares are likely to jump more than 30 yuan each.