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Insurer Raises $1 Billion From Thailand’s Largest IPO This Year

  • Thai Life set to begin trading in Bangkok from July 25
  • GIC, Oaktree Capital among Thai Life’s cornerstone investors

Thai Life Insurance Pcl raised 37.1 billion baht ($1 billion) from an initial public offering, the largest share sale by a Thai firm in more than a year. 

The Bangkok-based life insurer and two of its major shareholders sold a combined 2.32 billion shares, including a green-shoe option, at 16 baht each to domestic and international investors, the company said in a statement.