Shares in China Life, the country's leading insurer, were expected to jump around 60% on their trading debut in Shanghai Tuesday, Reuters reported. The company, which already has listings in the US and Hong Kong, raised US$3.6 billion in December through China's second-largest domestic initial public offering. The offering – 1.5 billion new A-shares or 5.3% of the company's expanded share capital – attracted over US$100 billion in orders and was nearly 30 times oversubscribed. The first insurer to list domestically, China Life is expected to be in strong demand thanks to the country's booming consumer sector and ageing population. Shares are expected to rise from the IPO price of US$2.42 (RMB18.88) into the US$3.20-5.51 (RMB25-43) range during the day. At the IPO price, China Life is already valued around six times book value, compared to 2.5 times for the sector globally.