Samsung Life Tentatively Picks Goldman Sachs, 4 Others For IPO
SEOUL -(Dow Jones)- Samsung Life Insurance Co., South Korea's largest life
insurer by market share, said Friday that it has tentatively selected Goldman
Sachs, Morgan Stanley, Bank of America Merrill Lynch and two other local
securities firms to manage its initial public offering.
The two local institutions are Korea Investment & Securities and Shinhan
Investment Corp., Samsung Life said in a statement.
Samsung Life added that it will further negotiate with the companies on terms
of the deal before signing a final contract.
The insurer previously said 18 financial institutions had submitted proposals
to manage the IPO next year, which market watchers say could be the largest ever
in South Korea.
-By Jin-Young Yook, Dow Jones Newswires; 822-2198-2230; jin-young.yook@
dowjones.com
(END) Dow Jones Newswires
11-27-090342ET
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