South Korean Shinsegae and CJ Group are considering selling their stakes in Samsung Life in or after the planned IPO, reported Korea Economic Daily TV.
The report cited an unspecified insider at Shinsegae as saying his company is evaluating whether to sell its 13.5% stake in the IPO at the moment. The report also quoted an insider at CJ as saying his group is considering selling its stake via the IPO or after the IPO.
CJ Group has a a 8.07% stake in the Korean insurer through its holding company CJ and subsidiary CJ Cheiljedang.
The report noted the total value of their combined 21.57% stake stands as much as at KRW 4.3tn (USD 3.76bn).
Earlier it was reported that Samsung Life Insurance is planning an IPO in the first half of this year, with the size of the offering between KRW 4trn (USD 3.47bn) and KRW 7trn.
(Source: Korea Economic Daily)
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