Chubb Insurance Malaysia files IPO on Bursa with 300 million shares

Proceeds from the share sale will go entirely to Chubb INA.

Chubb Insurance Malaysia Bhd has filed for an initial public offering on Bursa Malaysia to sell 300 million existing shares, equal to 30% of its issued capital, reported Reuters.

All shares will be offered by its sole shareholder, Chubb INA International Holdings, according to a draft prospectus filed on Monday.

The IPO will offer 249.55 million shares to institutional investors and 50.45 million shares to retail investors. 

Proceeds from the share sale will go entirely to Chubb INA. The draft prospectus did not disclose the valuation or timeline for the listing.

 Maybank Investment Bank is the principal adviser, sole bookrunner and underwriter for the deal.