Thai Life Insurance is reportedly targeting a capital raise of $1bn through an initial public offering (IPO) in Thailand.
According to a report from Reinsurance News, the IPO would be the country’s largest such fundraise this year.
Thai Life Insurance was established in 1942 as the first life insurance company in Thailand. Since then, it has been striving to be the leading international life insurance company that “offers total life solutions and creates financial security for every life.”
The company plans to sell 2.16 billion shares for 16 baht ($0.45) each, according to a term sheet viewed Tuesday by The Wall Street Journal.
Thai Life said that the capital raises would go towards business expansion and working-capital needs.
Bluezone, an InsurTech reinventing life insurance for people with chronic illnesses, recently raised £1.5m in seed funding.
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