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China Life Invested US$300 Million in Visa IPO
2318.HK, 2628.HK, 601318.SH, 601628.SH, China Life, China Life Insurance, LFC, Ping An Insurance, V, Visa
Posted by: Li Jun on Mar 24, 2008 | 17:03
Editorial Summary
China Life Insurance (China Life) (601628.SH; 2628.HK; NYSE: LFC) invested US$300 million in Visa Inc.'s (NYSE: V) initial public offering (IPO), and plans to continue investing in the U.S. and Europe market, report Securities Times. Visa raised a total of US$17.9 billion in its March 19 offering, the third largest IPO ever.
Shares of China Life dropped 8.15 percent to close at RMB28.97 in Shanghai on Monday, while shares of Ping An Insurance (601318.SH, 2318.HK) fell 9.81 percent to close at RMB50.56 in Shanghai.
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