According to Briefing.com, China Life Insurance (LFC) will conduct a 2:1 stock split when the trading begins on December 29th. There have been some rumors on Yahoo! Finance discussion board lately about the split, but this is the first official announcement. Closed near $140 yesterday, the price after the split will be much more affordable. Two days ago, Motley Fool had this to say about LFC
Since Google (Nasdaq: GOOG) came public, it’s had a monstrous run-up by any measure. Google’s total returns since that August 2004 IPO trail only China Life Insurance (NYSE: LFC) and Apple (Nasdaq: AAPL) among large-cap companies.
It will be interesting to see how LFC will trade after the split.
*The actual ratio is 2.66 to 1. LFC closed at $139.15 yesterday and was priced at $52.31 at today’s open. So the ratio is 139.15/52.31 = 2.66 instead of 2:1 reported by Briefing.com. My Scottrade still shows the number of shares I own at 500.
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