China Life Insurance Eyes Partnership with Affiliate for Semiconductor Niche Investments

MT Newswires Live07-10

China Life Insurance (HKG:2628, SHA:601628) is planning to enter into a partnership, as a limited partner, with China Life Industrial Investment Management as the general partner by year-end.

The company will contribute 4.999 billion yuan in capital to the partnership, with China Life Industrial Investment Management contributing 1 million yuan.

The partnership, which will be valid for eight years, will mainly invest in companies operating in the semiconductor industry.

The capital raised by the partnership will be invested in up to 3% equity interest in a provider of process-related supporting services to design houses and other system companies.

China Life Capital, parent of China Life Industrial Investment Management, will serve as the manager of the partnership.

China Life Capital is a unit of China Life Insurance (Group), the controlling shareholder of China Life Insurance.

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