Guofu Life Insurance Co., Ltd. has announced a proposed capital increase of 540 million yuan, according to its latest filing on changes to registered capital. The insurer plans to issue 450 million new shares at a price of 1.20 yuan per share, which would raise total registered capital from 2.047 billion yuan to 2.497 billion yuan upon completion.

All participants in this capital raise are existing shareholders of Guofu Life Insurance. Vipshop (Guangzhou Vipshop Information Technology Co., Ltd.) will subscribe to 50 million shares with an investment of 60 million yuan, while Guangxi Investment Group Financial Holdings Co., Ltd. will purchase 400 million shares, injecting 480 million yuan into the company.

The capital increase is still subject to regulatory approval from the Guangxi Regulatory Bureau of the National Financial Regulatory Administration, and will only take effect after the requisite authorization is granted.