China Life was set to decide the indicative price range for its upcoming Shanghai public offering, Reuters reported. The price is scheduled to be officially announced Monday. The company refuted reports in local newspapers and on the internet that the price has been fixed at between US$2.9-3.7 (RMB23-29) per share, saying instead that consultations are ongoing and no decision has been made. Fund managers were unclear on pricing after China Life's roadshow on Monday, Reuters reported. Forecasts to date range between US$2.3-2.9 (RMB18-23). Many analysts expect the share price to be announced at a discount of 10% to the company's Hong Kong-listed H-shares, which closed on Thursday at US$3.02 (HK$23.45). China Life is expected to raise about US$3.8 billion in its Shanghai offer.
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