Finance / South Korea
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
Korea's SK C&C's US$1bn IPO
June 2008 | IPO News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
SK C&C, the technology outsourcing arm of SK Group is going to undertake the first IPO with an international tranche this year, hoping to raise up to W1.19trn (US$1.15bn). Up to 9mn secondary shares are on offer, with 80% available for retail, domestic and international buyers. Though open to foreign investors, it is expected that less than 20% of the stock on offer will be purchased abroad. One South Korean banker said that 'in the current tough markets, one bright spot in terms of liquidity is Korea, so the expectation is that the majority of the deal will go to domestic Korea'.