Thai Life Insurance on the way to IPO of the year in Thailand

Written by admin

Thai Life insurer meets investors ahead of billion dollar IPO that will become Thailand’s largest this year

Thai Life Insurance is beginning to meet with investors ahead of a planned $1 billion initial public offering (IPO) that would be the largest in Thailand this year, according to Reuters.

A $1 billion listing would be a boon for Asian capital markets which have struggled to attract new IPOs due to financial market volatility.

Thailand’s third-largest life insurer is planning a roadshow from late June to early July, before listing later in the month, according to a source familiar with the matter.

Thai Life plans to raise up to $1 billion under the deal, said two sources, who requested anonymity because the information had not yet been made public.

The company did not immediately respond to a request for comment from Reuters.

Thai Life held around 13% market share in the first quarter of 2022, according to government data, and posted a net profit of 3.79 billion baht ($110 million).

Some of the shares sold in the IPO will come from existing investors VC Property Co and Her Sing (HK) Ltd, according to a document seen by Reuters.

The sale would be Thailand’s biggest IPO since April last year, when microfinance firm Ngern Tid Lor Pcl raised $1.2 billion, according to Refinitiv data.

Source link

About the author


Leave a Comment