Dai-ichi Life raises $2.4b from share sale

The company, Japan's second-largest private-sector life insurer, will use the proceeds to fund its acquistion of US company Protective Insurance Company.

Dai-ichi Life raises $2.4b from share sale

Japanese firm Dai-ichi Life Insurance raised 241 billion $2.4 billion in equity on Tuesday to fund its pending acquisition of US company Protective Insurance Company.

The follow-on offering of 197.8 million shares was split 5050 between international and Japanese investors and priced at 1,401 per share, a 3.04% discount to the July 15 close. Shares were initially marketed at a discount of between 3% and 5%, according to a banker close to the deal....

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES