It’s priced at RMB 18.88 per share, and it will go out of gate on Jan 9, 2007 in Shanghai.
Today its US ADR LFC closed at $138.42. Note each ADR represents 40 shares of A share (in Shanghai). Consider today’s USD CNY conversion rate, 1 USD = 7.825 CNY.
138.42*7.825/40 = CNY 27.08
Assume this 138 price holds, from 18.88 to 27.08, it will have 50% jump on Jan 9, 2007. And its PE ratio will be in 90s. I feel this will very much like the New York Mercantile (NMX) recent IPO, i.e., it will jump to the target price as soon as it started trading. Ordinary investors won’t have much chances to make money on this one.
Yahoo finance has an interesting aritcle on LFC (in Chinese).