Samsung Life Foundation sells insurance stake

The charitable group raises $491m in accelerated block deal; the latest secondary placement offering amid Samsung Life Insurance's restructuring.

Samsung Life Foundation sells insurance stake

Samsung Life Public Welfare Foundation offloaded more than half of its stake in Samsung Life Insurance and raised $491 million in a block trade early on Friday morning.

The charitable institution, an affiliate of Samsung Group, sold 5 million secondary shares at W100,320 per share, a 4% discount to the June 19 close of W104,500 under the leads of Citi and Credit Suisse.

Shares were initially offered at W99,275 to W101,365 per...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...