(Yicai Global) June 24 -- China Life Insurance forked over almost a 20 percent premium to boost its shareholding of Wonders Information and become the latter's largest shareholder in order to enhance cooperation in healthcare software.

China Life Insurance paid CNY14.44 (USD2.10) for each share, more than the latest closing price of CNY12.12, the Shanghai-based target company said in a statement yesterday. The Beijing-based insurer may buy more, it added.

Wonders's [SHE: 300168] share price has risen by the daily limit of 10 percent today to CNY13.33.

Wanhao Investment, the original biggest shareholder, and Shi Yibing, the actual controller, inked an equity transfer deal with China Life Insurance, under which the buyer acquired 5 percent of Wonders's equity to have a 15 percent stake in total. With the deal, Wanhao's shareholding fell to nearly 13.8 percent.

China Life Insurance will leverage Wonders's technological prowess to strengthen the pair's joint efforts in the area of medical care, and health insurance, as well as better serve the purposes of China's health care reform, the statement added. China has sought to upgrade its health care system for a decade. 

Founded in 1995, Wonders makes software for e-government, social security, cultural tourism, and smart traffic systems. 

Editor: Emmi Laine