The China Securities Regulatory Commission will meet on Friday to pass judgment on China Life Insurance Co's plans to become the first Chinese mainland insurer to issue yuan-denominated shares.

China Life, the country's biggest insurer, plans to sell up to 1.5 billion A shares on the Shanghai Stock Exchange.

The sale, which represents 5.3 percent of the insurer's enlarged share base, will target strategic, institutional and retail investors.

Analysts expect it will take two weeks to complete the road shows and coordinate the public offering after gaining regulatory approval, making the stock's debut likely early next year.

The Beijing-based insurer said earlier that it planned for the mainland listing to occur before the end of the year.

The issue will provide fresh financing to expand the company's access to securities markets, the insurer said earlier.

China International Capital Corp and China Galaxy Securities Co are the underwriters for the share sale.

China Life, already listed in New York and Hong Kong, will be followed by Ping An Insurance, China's second-biggest insurer, in going public on the mainland. Shenzhen-based Ping An plans to sell up to 1.15 billion A shares in Shanghai.

Chinese mainland authorities have been encouraging industry-bellwether companies that have already listed overseas to issue shares on mainland bourses as the regulator tries to support its fledging capital market with quality listings.

China's stock markets emerged from a five-year slump this year. The Shanghai Composite Index has surged 91 percent so far while the Shenzhen Composite Index recorded 82 percent growth.

But stocks probably won't perform as well next year, Standard & Poor's said in a teleconference yesterday.

Editor: Yan