Samsung Life applies for KRX listing

SEOUL, Jan. 21 (Yonhap) -- Samsung Life Insurance Co., South Korea's top life
insurer, on Thursday submitted an application for a stock listing on the Seoul
main bourse, the bourse operator Korea Exchange said.
The listing is expected to take place sometime before May after the life insurer
offers shares estimated at up to 5 trillion won (US$4.4 billion) to the public.
Shares of Samsung Life almost tripled to 1.5 million won in latest over the
counter trading since its Nov. 16 announcement of the listing plan.
A day earlier, the life insurer received approval for a stock split at an
unscheduled meeting of shareholders. The decision will reduce the face value of
its shares to 500 won from 5,000 won while raising the number of the shares
tenfolds to 200 million.
The life insurer booked 113 billion won in net profit for fiscal 2008 with
operating profit of 25.3 trillion won, according to the KRX.
pbr@yna.co.kr
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