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New China Life raises HK$73.7 mln via overallotment option

Jan. 9, 2012 (China Knowledge) - New China Life Insurance Co,<601336><1336>, the fourth-largest life insurer in China, announced today that it raised an additional HK$73.7 million by partially exercising an overallotment option in its initial public offering in Hong Kong.

The company said that it issued 2.59 million more H shares at HK$28.50 apiece.

New China Life raised a total of US$1.89 billion through dual listing in Shanghai and Hong Kong, which was the largest IPO in the world since September this year when Sinohydro Group<601669> raised US$2.1 billion through an IPO on Shanghai bourse.

The company saw its H shares loose 9.8% from its IPO price of HK$28.50 to close at HK$25.7 on the first day of trading, while its A shares rise13.72% from the IPO price of RMB close at RMB 26.44 on the Shanghai debut.

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