ING Life: MBK has high hopes for IPO

Is the private equity-owned group offering a compelling enough story to tempt investors back to a sector which has been on a downswing for well over a year?

Roadshows for a W1.1 trillion to W1.3 trillion $987 million to $1.17 billion flotation of ING Life Korea begin in Hong Kong this Thursday, marking the first time a private equity company has used an initial public offering to begin its exit process in Korea.

The insurer’s owner, MBK Partners and its co-founder, Michael Kim, have long held a reputation for innovation in the Korean financial services sector.

Yet in this instance, it is a case of innovation born out of failure. MBK first attempted to offload Korea's sixth largest life insurer by assets through a W3 trillion trade sale last year.

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¬ Haymarket Media Limited. All rights reserved.

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