Dai-ichi Life raises $11bn in IPO
Dai-ichi Mutual Life Insurance will raise 1.01trn yen ($11bn) in the Japan’s biggest initial public offering in more than a decade after pricing its stock 9.7% below the top of a planned range.
Japan's second-largest life insurer will sell 7.2 millon shares in the demutualization at 140,000 yen apiece, compared with the 125,000 yen to 155,000 yen range it had set.
The offering is the largest
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