July 3, 2014 / 7:41 AM / 3 years ago

Dai-ichi Life to issue up to 275.9 bln yen in new shares -filing

TOKYO, July 3 (Reuters) - Japan’s Dai-ichi Life Insurance Co Ltd will issue up to 275.9 billion yen ($2.7 billion) in new shares to help fund its planned acquisition of U.S. peer Protective Life, according to a regulatory filing with the finance ministry.

The issuance plan was widely expected after Dai-ichi Life last month filed a shelf registration to issue new shares.

Dai-ichi Life has said it expects to complete the $5.7 billion acquisition of Protective Life by January pending shareholder and regulatory approval. ($1 = 101.8900 Japanese Yen) (Reporting by Chris Gallagher; Editing by Edmund Klamann)

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