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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1892)	12/11/2003 1:44:47 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China Life issue oversubscribed By Francesco Guerrera and Justine Lau in Hong Kong Published: December 9 2003 21:59 \| Last Updated: December 9 2003 21:59 Investors have applied for nearly US$30bn worth of shares in China Life, 10 times the amount to be offered in next week's listing, in the latest sign of strong appetite for initial public offerings from Chinese companies. The strong demand prompted China's largest life assurer to close its offering for international institutional investors today, a day earlier than planned, forcing several large fund managers, which usually wait until the last opportunity to file their orders, to rush their applications through last night. The state-owned company's US$2.3bn-$3bn IPO in Hong Kong and New York, the world's largest this year, is expected to receive an extra boost from Hong Kong retail investors. The territory's residents, who have until tomorrow to apply for China Life shares, have flocked to IPOs of Chinese companies this year with reports of long queues to hand in forms. news.ft.com