China Life invests US$300m in Visa IPO

(SHANGHAI) China Life yesterday said that it purchased nearly US$300 million of shares in Visa Inc's initial public offering (IPO), while the nation's sovereign wealth fund reportedly bought US$100 million worth of shares. China Life, the nation's largest life insurer, said in a statement that the performance of Visa's shares, which have risen 35.8 per cent since last week's IPO in New York, indicated that the purchase was 'a successful investment'.