CHINA LIFE INSURANCE COMPANY ENTERS CITIC SECURITIES
AsiaInfo Services, June, 2006
AsiaInfo Services 06-23-2006 China Life Insurance Company Enters CITIC Securities BEIJING, Jun 23, 2006 (SinoCast via COMTEX) -- China Life Insurance Company (2638.HK) takes initiative to march to securities industry. Insiders reveal China Life Insurance Company has gained over 300 million shares in CITIC Securities'targeted placement, which makes it the second largest shareholder of CITIC Securities (60030) that is under non-tradable share reform. On May 8, the board of directors of CITIC Securities passed the bill of non-publicly issuing 500 million additional A-shares (including 500 million shares), planning to raise no more than CNY 5 billion.
CITIC Securities reveal this shares issuing is targeted at insurance companies, funds and QFII, and it also wishes...
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