Korea Life Insurance Co. submitted an application for preliminary approval for its initial public offering next year to the Korea Exchange, the bourse said Friday.
The KRX said in a statement that Korea Life Insurance, South Korea’s second-largest life insurer in terms of total premiums received, submitted the application Wednesday. It didn’t provide further details.
Korea Life Insurance, majority owned by Hanwha Group, could list shares on the main bourse as early as in April if the process runs smoothly.
Market watchers say that the total IPO price could amount to KRW2 trillion ($1.7 billion).
