Business news for Mon, 24 Dec 2007 & with word ipo. 6 news.

THE prospects of rising profit for China Pacific Insurance (Group) Co have created a buzz among stock analysts who forecast that the insurer's stock is likely to jump about 50 percent on its A share debut today in Shanghai. Everbright Securities Co expects shares of Pacific Insurance to be between 42.60 yuan (US$5.81) and 44.30 yuan apiece, up from its offering price of 30 yuan. Guotai Jun'an Securities has a higher valuation of 43.80 yuan to 46.80 yuan while Haitong Securities sees a range of 40.64 yuan to 45.22 yuan. Pacific Insurance raised 30 billion yuan in its Shanghai initial public offering last week, making it the sixth-biggest IPO on the Chinese mainland. The Shanghai-based insurer sold one billion yuan-backed new shares, or 13 percent of its enlarged capital, at the top end of its offering price range of 27 yuan to 30 yuan. "Pacific is the sole comprehensive insurer whose business is balanced between life and property and casualty insurance," said Pan

Suddenly, Martin Tobias is out at Imperium while rumors swirl that the IPO is delayed.

CGEN's larger competitor Focus Media announced it was buying CGEN in a deal that could ultimately wind up being worth $350 million.

WASHINGTON (MarketWatch) -- Orion Energy Systems Inc. said underwriters have exercised their over-allotment options, putting the total size of the company's initial public offering at more than 8.8 million common shares. Net proceeds of about $78.8 million will be used for working capital and general corporate purposes, including funding potential acquisitions, the Plymouth, Wis.-based energy-management company.

BG Medicine, a small Waltham company trying to develop novel medical tests, has postponed its initial public offering until next year after failing to excite enough investors to go public this month, analysts say.