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Byline: Jennifer M. Hanawald
Taiyo Life Insurance
TOKYO -- Japan's Taiyo Life Insurance Co. announced a tentative price range of [yen]70,000 to [yen]90,000 ($594 to $764) per share for its initial public offering, giving the deal a value of up to $769 million, according to wire reports.
Book-building for the global transaction of about 1 million shares will take place from March 7 to March 17. The fixed price will be announced March 19. When the mid-sized insurer demutualizes and lists April 1 on the Tokyo Stock Exchange, it will be the second Japanese life insurer to transform into a stock company, following the listing of Daido Life Insurance Co. last April. Taiyo Life's core business is insurance sales for individuals in the retail household market, mainly to middle-aged and elderly individuals, especially homemakers. It has …