Samsung Life on the ECM block

Strong first quarter results encourage E-Mart and Shinsegae to pare down stakes in Samsung Life.

Two Samsung Life shareholders took advantage of a sharp share price spike to divest a W655.2 billion $601 million stake after Thursday's close. 

The deal in Korea's largest insurance company by assets marks a rare international equity offering from the country this year. To date, the only big deal of 2015 has been a $1.06 billion follow on from Hyundai Glovis, although initial public offerings in Mirae Asset Life Insurance and Innocean Worldwide are expected before the summer

Samsung Life's deal comprised a six million secondary share selldown by hypermarket operator E-Mart and department store operator Shinsegae according to a term sheet seen by...

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