Dai-ichi Mutual Life Insurance, Japan's second-largest life insurer, said it would sell about 1.07 trillion yen ($11.7 billion) of shares in Japan's largest initial public offering in more than a decade.                                            Dai-ichi Life, which is planning to list on the Tokyo Stock Exchange on April 1, said it would sell more than 7 million shares at a tentative price of 150,000 yen each. The final price wil be set at a later date after sounding out investors.                                            At that price Dai-ichi is set to be Japan's largest initial public offering since mobile phone company NTT DoCoMo went public in late 1998 after selling 2.1 trillion yen worth of shares.                                            It would give Dai-ichi a total market value of 1.5 trillion yen, more than double the value of rival insurer T&D Holdings, which is worth 673 billion yen.                                            Dai-ichi Life said it would sell 691.4 billion yen worth of the shares in Japan and the rest overseas.                                            Nomura Holdings Inc, Mizuho Securities and Bank of America-Merrill Lynch will arrange the initial public offering, which will be open to investors in Japan and overseas, Dai-ichi said.

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