Fubon Life Seeks Up to $700 Million in Anthropic IPO Shares

Fubon Financial Holding Co., Ltd. disclosed Nov. 13 that its subsidiary, Fubon Life Insurance Co., Ltd., plans to seek up to $700 million in shares in Anthropic, PBC’s proposed Nasdaq IPO. At the indicated price range, the maximum request would equal about 1.1% to 1.2% of the base offering.

The cap excludes commissions and related taxes. Fubon Life plans to make a one-time payment from its own funds, with the investment designated as use of life-insurance funds under Taiwan’s Insurance Act. Its final purchase price and share allocation have not been set; the insurer plans to disclose them after they are determined.

Anthropic’s offering covers 825 million Class A common shares at an indicated $70 to $78 each.

At $78 a share, a $700 million subscription would cover about 8.97 million shares. At $70, it would cover 10 million. Those estimates compare the full subscription cap with the endpoints of the price range; they do not establish how many shares Fubon Life will ultimately receive.

The 825 million-share base offering would have gross value of up to $64.35 billion at the top of the range. Combined with a $26 billion private placement, Anthropic’s planned IPO and private placement would carry gross value of up to $90.35 billion.

Fubon’s notice places the insurer’s securities investments, including the proposed purchase, at 77.99% of its latest reported total assets. Fubon Life’s final price and allocation remain pending.