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China Life earns 2.7 billion yuan with ICBC |
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Written by Administrator
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Friday, 17 November 2006 |
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BEIJING, Nov. 17 (InfoChina) – Driven by sharp price rises of the Industrial and Commercial Bank of China (ICBC, 601398.SH, 1398.HK) on both the Shanghai Stock Exchange and HK Stock Exchange on November 16, China Life is expected to earn a book yield of 2.7 billion yuan with a total of 1.93 billion shares, said China Life’s announcement on November 17.
China Life announced to have subscribed 650 million H-shares and 1.28 billion A-shares of ICBC with an offer of 5.93 billion yuan. The ICBC’s A-share surged 4.11 percent yesterday in Shanghai to close at 3.80 yuan, with an intra-day high of 3.93 yuan. Both the shares quoted on Shanghai and HK stock exchanges have yielded an accumulative growth of over 20 percent over the issue price. |
China Stock News