BEIJING, October 11 (InfoChina) – China Life Insurance Group and its listing subsidiary China Life Insurance Co., Ltd. (NYSE: LFC, HK: 2628) have confirmed to subscribe 6.4 billion HK dollars worth shares in the initial public offering (IPO) of the Industrial and Commercial Bank of China (ICBC), one of China’s Big Four commercial banks, China Business News reported.

Statistics released by Hong Kong Stock Exchange showed that as cornerstone investors, the group company will subscribe 4.4 billion HK dollars worth shares while the subsidiary will spend 2 billion HK dollars.

       If the subscription successes, China Life will become shareholders of all the Big Four banks, namely ICBC, China Construction Bank (CCB, HK: 0939), the Bank of China (BOC, HK: 3988, SH: 601988) and Agricultural Bank of China (ABC).