LFC Won Regulatory Approval for Domestic Listing

According to Reuters, China Life Insurance (LFC) has won approval to sell its class-A shares in Shanghai, which could raise $3.2 billion or 25 billion yuan, making the offering the second largest in the history of Chinese domestic public offering. Encouraged by the news, LFC is now trading above $105 in NYSE, more than $3 higher than yesterday's closing price. Overnight in Hong Kong, LFC gained another 5.42%.

It could be interesting to see how high LFC can go.