Mirae Asset Life's IPO raises $306m

High valuation compared to much larger peers pushes pricing below range. Domestic investors made up the bulk of the deal.

Mirae Asset Life's IPO raises $306m

Mirae Asset Life Insurance, Korea’s fifth largest life insurer, raised $306.5 million in an initial public offering of its shares, with shares pricing below the marketed range.

The total deal-size consisted of roughly 45.4 million shares 40 million primary and 5.4 million sold by Mirae’s affiliated investment company, according to a source close to the deal. Shares priced Thursday evening in Hong Kong at W7,500 per unit, well below the initial W8,200 to W10,000 price...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: mirae asset life | korea | ipo | insurance | citi

Print Edition

FinanceAsia Print Edition

EVENTS