China Life Insurance Co. (2628.HK) said Wednesday it had met the bookrunners of American International Assurance Co.'s upcoming initial public offering, but it has yet to make a decision on whether to invest.

The final decision on whether to invest in AIA, the Asian life-insurance unit of American International Group Inc. (AIG), will depend on the IPO's pricing, China Life Chairman Yang Chao told reporters at a news conference in Hong Kong.

Yang also said China Life aims to buy into Agricultural Bank of China Ltd., the only one of China's big state-run lenders yet to list.

AIG has mandated Morgan Stanley (MS) and Deutsche Bank AG as global coordinators of AIA's upcoming IPO, people familiar with the situation said in June.

The IPO could raise between US$5 billion and US$10 billion, another person close to the deal said earlier.

-By Aries Poon, Dow Jones Newswires; 852-2832-2332; poon.aries@dowjones.com