少妇无码精品23p_亚洲一区无码电影在线观看网站 _悠悠色一区二区_中文字幕亚洲无码第36页

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

 

The shares for the mainland's biggest life insurer seem likely to trade for between 28.69 yuan (US$3.67) and 32.69 yuan (US$4.18) apiece, said Wu Yonggang, an analyst at Guotai Jun'an Securities.

 

This view was mirrored by Erwin Sanft, head of China Research of BNP Paribas Securities (Asia), who estimated the shares would jump to over 30 yuan (US$3.8) each.

 

Beijing-based China Life offered 18.88 yuan (US$2.42) apiece for its A shares. The company raised 28.32 billion yuan (US$3.62 billion) by selling 1.5 billion yuan (US$191.9 million)-denominated A shares.

 

Public investors paid 832.5 billion yuan (US$106.5 billion), or an oversubscription rate of 49 times, for the shares offered to them in December.

 

"The company enjoys a bright prospect for growth," said Wu. "That's why it has wooed so many investors despite its high price-to-earnings ratio."

 

China Life's PE ratio tops as high as 97.8, while the figure for main big-caps stands at around 30.

 

The bullish sentiment seen in the mainland stock market was of big help in the heavy buying of China Life shares, analysts said. The Shanghai Composite Index gained 130 percent in 2006, rebounding from a five-year low.

 

China Galaxy Securities Co and China International Capital Corp are the underwriters for China Life's share sale. The insurer's shares ended at HK$26.10 (US$3.35) in Hong Kong on Friday, down 3.3 percent. Its H shares have almost doubled since September following the insurer's announcement of its plan to sell shares on the mainland.

 

China Life, already listed in New York and Hong Kong, will be followed by Ping An Insurance, the second-biggest insurer on the Chinese mainland, in going public on the mainland.

 

Shenzhen-based Ping An plans to sell up to 1.15 billion A shares in Shanghai.

 

The Chinese mainland's insurance market is seeing a trail-blazing rise due to the rising middle class's need for financial protection. The government is also supporting the commercial insurance market, as part of the mainland's US$1.9 trillion household savings could be channeled to it.

 

(Shanghai Daily January 8, 2007)