Thai Life seeks bank pitches for US$700mil IPO

While the company is targeting a listing before the end of this year, it hasn’t picked any advisers as the outbreak of the novel coronavirus could lead to potential delays, the people said.

BANGKOK: Thai Life Insurance Pcl has requested pitches from banks for an initial public offering (IPO) that could raise as much as US$700mil on the stock exchange of South-East Asia’s second-biggest economy, according to people with knowledge of the matter.

Thailand’s third-largest life insurer by assets met last month with potential advisers on the proposed share sale, said the people, who asked not to be identified as the discussions are private.