Thai Life targets $1b IPO

This could be the largest equity capital market deal in SEA this year.

Thai Life Insurance has announced that it is targeting a $1b initial public offering, set to become the largest equity capital market deal in Southeast Asia this year.

The firm insurer aims to raise $971.2m for its first-time share sale and up to $1.04b if an overallotment option is exercised. 

READ MORE: Thai Life meets investors ahead of $1b IPO

According to a regulatory filing, Thai Life is offering 2.1 billion shares, about 18.8% of total shares and a greenshoe option of 161.3 million shares.

The funds from the IPO would go to provide working capital, support digital transformation, and strengthen distribution channels with partners, Thai Life said.