Panin brings some life to the market

Panin Insurance yesterday priced a 2.9 billion share placement in its subsidiary Panin Life, selling 24.2% of the company's existing issued share capital. The deal was priced at RP160 a share, a 5.9% discount to the closing price of Rp170 a share on Wednesday. The deal raised Rp464 billion ($50.2 million).