China Life Insurance Joins Race to Take Chinese Healthcare Provider off NASDAQ

(Beijing) – A new bid from China Life Insurance Co. for shares of iKang, a NASDAQ-listed Chinese healthcare provider, has fuelled a bidding war between two groups that want to delist it from U.S. exchanges and sell the shares back home.

The price offered by China Life was "slightly higher than US$ 20 per American depositary share (ADS)", a source close to China Life told Caixin. Earlier this month, Yunfeng Capital, a private equity firm co-founded by Alibaba chairman Jack Ma, offered US$20 to US$25 per ADS to take the company private in an all-cash transaction.