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

To: RealMuLan who wrote (1941)	12/13/2003 10:51:40 AM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China Life IPO raises US$3b HONG KONG: China Life Insurance Co Ltd has raised HK$23.5bil (US$3bil), near the top-end of expectations, amid frenzied demand for the world’s largest initial public offering (IPO) this year, sources close to the deal said yesterday. Investors ordered about 25 times more shares in China’s biggest life insurer than were available amid a rally in China-related stocks and renewed appetite for IPOs. Orders from big institutions topped US$50bil as investors clamoured for a piece of China’s 8%-plus economic growth and surging domestic consumption fuelled by the country’s increasing wealth. Small Hong Kong investors, who queued outside bank branches this week to apply for shares in an IPO frenzy last seen during the dotcom days, committed roughly HK$200bil in hopes of landing coveted shares. biz.thestar.com.my