May 11, 2017 / 12:07 AM / 3 months ago

S.Korea ING Life debuts below IPO price

SEOUL, May 11 (Reuters) - ING Life Insurance, South Korea's fifth-largest life insurer, saw its shares drop below their initial public offering (IPO) price on debut on Thursday.

The shares opened at 31,200 won, compared to an IPO price of 33,000 won.

Last month, ING Life priced the IPO near the lower end of an indicative range, raising its Asia-based private equity owner MBK Partners 1.1 trillion won ($974 million) in South Korea's second-largest IPO so far this year.

Reporting by Joyce Lee; Editing by Stephen Coates

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