China Life Insurance (HKG:2628, SHA:601628) will sell 1.15 billion shares, or 33.73% equity, in China Life Pension to controlling shareholder, China Life Insurance (Group), for 4.15 billion yuan.
The company's unit, China Life Asset Management, will also dispose of its 3.53% interest in the target to China Life Insurance (Group) for 433.9 million yuan, a Wednesday bourse filing showed.
Following this, the company's interest in China Life Pension will fall to 37.01%, with China Life Asset Management no longer holding any stake.
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