The FINANCIAL — According to Dow Jones, South Korea's Kumho Life Insurance plans to go public this year and is aiming to raise KRW300 billion-KRW500 billion from the securities market, a company official said on August 25.
"We are planning to submit our application to the Korea Exchange in September and if we can get an approval within two months as planned, then we'll go ahead with an IPO before the year is over," said the official, declining to be named.
He said that if the market conditions don't permit a listing this year, Kumho Life Insurance will finalize the initial public offering deal within the first quarter of 2009.
Kumho Life ranks 10th out of 22 life insurance companies operating in South Korea in terms of total assets and premium received. It has total assets of around KRW7 trillion, the official said.
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