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DCNSF Dai Ichi Life Insurance Company Ltd (PK)

23.91
0.00 (0.00%)
Last Updated: 15:22:21
Delayed by 15 minutes
Share Name Share Symbol Market Type
Dai Ichi Life Insurance Company Ltd (PK) USOTC:DCNSF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 23.91 24.69 28.96 0.00 15:22:21

Dai-ichi Life Plans Equity Financing to Facilitate US Protective Life Buy

04/06/2014 2:50am

Dow Jones News


Dai Ichi Life Insurance (PK) (USOTC:DCNSF)
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TOKYO--Dai-ichi Life Insurance Co. (8750.TO) said Wednesday it plans to issue up to Y250 billion in new shares to finance its acquisition of U.S. life insurer Protective Life Corporation.

Dai-ichi Life said it will issue new shares between June 12 and June 11, 2015, with Goldman Sachs as an underwriter for the deal.

Also on Wednesday, Japan's third-largest private life insurer announced it will acquire all outstanding shares of Protective Life for $70.00 per share in cash, or a total transaction value of approximately $5.7 billion.

Write to Megumi Fujikawa at megumi.fujikawa@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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