Ping An Insurance, China's second largest life insurer, plans a share listing in Shanghai shortly.

Ping An is in talks with underwriters and sponsors, and hopes to launch its A-share initial public offering (IPO) before the Lunar New Year holiday on on February 18.

Meanwhile, CITIC Bank, the seventh largest lender, plans to sell both yuan denominated A-shares and Hong Kong dollar denominated H-shares simultaneously in April or May, the report said, citing sources.

The bank expects to raise 2.8 billion dollars and has selected Citigroup, Lehman Brothers, HSBC and China International Capital Corp as underwriters, it said.

Ping An Insurance, in which British-based banking giant HSBC owns a 19.9 percent stake, said last year it expected to sell 1.15 billion shares in Shanghai sometime in the first quarter in 2007.

In 2005, the company held 16.1 percent of China's life insurance market and 9.9 percent of the property insurance market.