China Life plans to issue US$2.6 billion in shares in a Shanghai listing that could become the largest ever on the mainland. But the timing may be off, as investors' hunger for domestic offerings may have been filled, the Financial Times reported. Air China had to cut the size of its offering earlier this month by 39% following lukewarm interest. China Life plans to issue 1.5 billion renminbi-denominated A-shares which represent 5.3% of its enlarged capital. At the current Hong Kong share price of US$1.74 the offering would be worth US$2.62 billion, slightly more than the Bank of China offering in June. The government is encouraging companies listed overseas to offer domestic shares to allow domestic investors to participate in profits.