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Report: ING Life Insurance Korea eyes US$1B IPO

ING Life Insurance Korea Ltd. plans to raise more than US$1 billion in an IPO in 2017, Reuters reported Jan. 20, citing Thomson Reuters' IFR.

The IPO will likely happen in the second quarter, "a person close to the deal" told IFR. The report came after MBK Partners suspended plans in August 2016 to sell ING Life Insurance Korea.

Morgan Stanley and Samsung Securities are advising on the deal.

A spokesman for MBK Partners said the insurer is looking at various options including an IPO or outright sale.