Thai Life Insurance (TLI), the country's second-largest life insurer, announces an initial public offering (IPO) price of 16 baht per share as it plans to raise up to 37 billion baht in its primary stake sale.
TLI is offering up to 2.1 billion shares, consisting of roughly 1.2 billion existing ordinary shares offered for sale by V.C. Sombat Company Ltd and 138.5 million shares ordinary shares offered by Her Sing (H.K.) Ltd.
The IPO shares make up a maximum of 18.8% of the company's total issued and paid-up ordinary shares, valued at not more than 37.067 billion baht in the case of overallotment.
