SEOUL, March 11 (Reuters) - The South Korean bourse on Thursday approved an estimated $4 billion IPO by the country's top life insurer Samsung Life Insurance, paving the way for what could be the country's biggest ever share float in May.
The offering by Samsung Life, which is part of South Korea's top business conglomerate Samsung Group and 21 percent owned by the group's former chairman Lee Kun-hee, comes after second-ranked Korea Life priced its 1.8 trillion won ($1.59 billion) IPO below the indicative range last week.
(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)
((jungyoun.park@thomsonreuters.com; +82 2 3704 5643; Reuters messaging: jungyoun.park.reuters.com@reuters.net)) ($1=1133.7 Won) Keywords: SAMSUNGLIFE/IPO (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The offering by Samsung Life, which is part of South Korea's top business conglomerate Samsung Group and 21 percent owned by the group's former chairman Lee Kun-hee, comes after second-ranked Korea Life priced its 1.8 trillion won ($1.59 billion) IPO below the indicative range last week.
(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)
((jungyoun.park@thomsonreuters.com; +82 2 3704 5643; Reuters messaging: jungyoun.park.reuters.com@reuters.net)) ($1=1133.7 Won) Keywords: SAMSUNGLIFE/IPO (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.