China Life Insurance Co (China Life) and China Investment Corp. (CIC) subscribed Visa shares days ago. China Life invested US$300M, and CIC, over US$100M.
 
Visa Inc. contacted much with China's insurers and banks. Its pre-IPO road show and formal road show attracted China Life and CIC to buy the stake without lock-up period, as a long-term investment.

Visa Inc. - the world's largest credit card processor - launched the largest IPO in U.S history, selling 406 million shares at US$44 a share to raise US$17.87B. It debuted on NYSE on March 19. This is also the world's third largest IPO after Industrial and Commercial Bank of China and NTT Mobile Communications Network Inc. The stock traded up about US$20.25, or about 30 percent, at US$64.25 on March 20.