Korea Life Insurance awards mandates for 2010 IPO

Published: 03 Nov 2009 21:43:31 PST

SEOUL, Nov 4 - Korea Life Insurance Co Ltd, the No. 2 life insurer in South Korea, said on Wednesday it had mandated six banks, including Goldman Sachs <GS.N>, JPMorgan <JPM.N> and Deutsche Bank <DBKGn.DE>, to handle its IPO planned next year.

"We will submit an application for preliminary approval next February or March," Korea Life spokesman An Min-ku said, referring to its initial public offering.

"We expect to list on the stock exchange in the second half of next year if the process goes smoothly."

The other banks given the mandate were Daewoo Securities <006800.KS>, Woori Investment & Securities <005940.KS> and Tong Yang Securities <003470.KS>.