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NCL to Sprint for IPO, Taikang Life Listing Suspended

 

Tuesday, May 10,2011, 9:38:41 AM   Click:

New China Life Insurance Co., Ltd. (NCL) is said to sprint for an initial public offering (IPO) in June, while Taikang Life Insurance Co., Ltd. may suspend a listing.

New China Life is said to submit listing documents on June 15, 2011. However, after global financial conglomerate Goldman Sachs bought a stake in Taikang Life, the latter may do not have a listing plan temporarily.

On April 7, Taikang Life announced the introduction of investments from Goldman Sachs. The investor bought a 12.02% stake in Taikang Life to become the second largest shareholder of the insurer, which has been agreed by China Insurance Regulatory Commission. However, the financial details about the deal were not disclosed. Insiders at large believed the move is good for speeding up the listing progress of Taikang Life. However, people access to Taikang Life disclosed the insurer likely does not have a plan to list in the recent two years.

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