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Minsheng Life attracting more foreign funds

By Tu Lei (chinadaily.com.cn)
Updated: 2007-07-27 14:18

Related publication:
Related readings: Minsheng Life gets nod for capital injection

Minsheng Life Insurance Co Ltd is attracting more foreign funds, said an insider in the company.

The insider said that enterprises from England and the United States are busy talking about stake purchases, and Minsheng Life is expected to decide between the two for a cooperation partner by the end of this year.

Minsheng Life has initially raised 959 million yuan (US$126.79 million) from 19 shareholders. In the second stage, the company will issue 913.5 million shares, and the capital raised by floating shares will be collected on November 30.

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The full text is available in the July Issue ofChina Insurance.