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Thai Life locks in major cornerstone investors for $1 billion IPO

HONG KONG, June 28 (Reuters) - Thai Life Insurance's initial public offering (IPO), the largest in Southeast Asia so far in 2022, will be sold to 18 domestic and international cornerstone investors, according to a term sheet seen by Reuters. Those investors will account for about 50% of the deal that is aiming to raise up to $1.02 billion, the term sheet showed. The IPO bookbuilding process will open Thursday. Thai Life did not immediately respond to a request for comment. (Reporting by Scott Murdoch in Hong Kong and Chayut Setboonsarng in Bangkok; Editing by Kim Coghill) ((Scott.Murdoch@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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