Tong Yang Life Insurance eyes stock market debut next month
Thursday, Sep 17,2009, 3:14:46 PM Click:
Tong Yang Life Insurance Co., a mid-sized South Korean insurer, said Tuesday it plans to list its shares on Seoul's main bourse next month, becoming the first local life insurer to go public.
Tong Yang Life Insurance plans to list about 20 million shares on the Korea Exchange on Oct. 8 at an estimated price range of between 17,000 won (US$14) and 22,000 won, the company said.
Established in 1989, the life insurer booked 19.8 billion won of net profit in the April-June period with total assets of 9.5 trillion won.
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