BEIJING, Aug. 12,
2022 /PRNewswire/ -- China Life Insurance
Company Limited (the "Company") (NYSE: LFC; SSE: 601628;
HKSE: 2628) announces today that the Company has notified the New
York Stock Exchange (the "NYSE") on August 12, 2022 (Eastern Time in the U.S.) that it will
apply for the voluntary delisting of its American depositary shares
("ADSs") from the NYSE and the deregistration of such ADSs
and underlying overseas listed shares (the "H
Shares") under the U.S. Securities Exchange Act of 1934,
as amended (the "Exchange Act"), due to a number of
considerations, including the limited trading volume of its
ADSs relative to the worldwide trading volume of its H Shares,
and the considerable administrative costs of maintaining the
listing of the ADSs on the NYSE, the registration of the ADSs and
the underlying H Shares under the Exchange Act and complying with
the periodic reporting requirements and related obligations of the
Exchange Act.
The Company intends to file a Form 25 with the United States
Securities and Exchange Commission (the "SEC") on or after
August 22, 2022 to delist its ADSs
from the NYSE. The delisting of the ADSs from the NYSE is expected
to become effective ten days thereafter. The last day of trading of
the ADSs on the NYSE is expected to be on or after September 1, 2022. From and after that
date, the ADSs of the Company will no longer be listed and traded
on the NYSE.
Once the delisting has become effective and the criteria for
deregistration have been satisfied, the Company intends to file a
Form 15F with the SEC to deregister the ADSs and the underlying H
Shares under the Exchange Act. Thereafter, all of the Company's
reporting obligations under the Exchange Act will be suspended
unless the Form 15F is subsequently withdrawn or denied.
Deregistration and termination of the Company's reporting
obligations under the Exchange Act are expected to become effective
90 days after its filing of Form 15F. Once the Form 15F is filed,
the Company will publish the information required under Rule
12g3-2(b) of the Exchange Act on its website,
https://www.e-chinalife.com.
The Company intends to terminate its ADS program after delisting
its ADSs from the NYSE in due course in accordance with the deposit
agreement. The Company does not intend to seek a listing or
registration on a national securities exchange in the U.S. or
quotation of the H Shares in the U.S. after the termination of its
ADS program and the deregistration of its ADSs and the
underlying H Shares. H Shares of the Company will continue to be
traded on The Stock Exchange of Hong Kong Limited (the "Hong
Kong Stock Exchange"). The Company will continue to comply with
its information disclosure and other obligations as a listed issuer
under the relevant rules of the Hong Kong Stock Exchange and
the Shanghai Stock Exchange as well as other applicable laws
and regulations.
The Company reserves its rights in all respects, for any reason,
to delay or withdraw the aforementioned filings prior to their
effectiveness and will issue any further announcement if required
under the listing rules or other applicable laws and
regulations.
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SOURCE China Life