China Life Insurance Becomes China's Second Largest Domestic IPO In One Day!

China Life Insurance was listed yesterday in the Shanghai Stock exchange and gapped open by more than 100% gain instantly. China life insurance is now China's second largest domestic IPO following Bank of China and is currently trading at a PE of about 100. China Life will only be included into the Shanghai index 10 days later due to a new policy to include new IPOs into the index after a cool down period of 11 days. This will help the index prevent false surges and speculative exits especially with the index futures that is going to be introduced to the markets soon.