Kyobo Life to go public by H1 2022

The insurer also plans to become a financial group.

South Korea’s third largest life insurer Kyobo Life Insurance is setting its sights to go public on the Korea Exchange (KRX) by 2022.

According to Kyobo Life, the initial public offering (IPO) will lay the foundation for the company to turn into a financial group with a holding company structure. The insurer plans to offer a wider range of financial services other than insurance.

The insurer did not reveal how many shares it plans to sell nor how much it wants to raise via IPO but said that the proceeds will be used to invest in new businesses, improve brand value as well as secure new growth engines.