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Thursday, July 3, 2014

Dai-ichi Life to issue up to 275.9 billion yen in new shares -filing, (NYSE: PL)

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.

Protective Life Corporation is a holding company. Shares of PL traded higher by 0.03% or $0.02/share to $69.44. In the past year, the shares have traded as low as $38.15 and as high as $69.88. On average, 1386320 shares of PL exchange hands on a given day and today's volume is recorded at 1190363.