Go to Contents Go to Navigation

Major IPOs in the offing in H2

All Headlines 08:43 July 04, 2018

SEOUL, July 4 (Yonhap) -- Several large South Korean companies are seeking to get listed on the local bourse in the second half of the year, firing up the market for initial public offerings (IPOs), industry sources said Wednesday.

Major refiner Hyundai Oilbank Co. is said to be preparing for preliminary screening with the aim of obtaining a listing on the main KOSPI market in October this year.

Hyundai Oilbank has selected NH Investment & Securities Co. and Hana Financial Investment Co. as lead managers for the planned listing, touted as the biggest second-half IPO worth some 2 trillion won (US$1.79 billion).

In June, leading games developer Kakao Games Corp. won a blessing from the Korea Exchange, the operator of the domestic bourse, for an IPO, which will be managed by Korea Investment & Securities Co.

Kakao Games, the game arm of Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, plans to get listed on the tech-heavy, secondary market in August and raise nearly 200 billion won.

Major IPOs in the offing in H2 - 1

After obtaining preliminary approval, low-cost carrier T'way Air plans to carry out an initial public offering (IPO) on the main bourse in August to raise funds for future growth.

The carrier plans to offer 16 million shares to raise a maximum of 267.2 billion won, with 20 percent of the total set to be sold to employees. It has selected Daeshin Securities Co. and Shinhan Investment Corp. as its lead managers for the IPO.

Other companies setting sights on the stock market include Lotte Data Communication Co., a unit of retail giant Lotte Group, CJ CGV Vietnam Holdings and top massage chair maker Bodyfriend, according to the sources.

Lee Ji-hoon, an analyst at SK Securities Co., expected the value of IPOs slated for the second half of this year to surpass the 3.1 trillion won recorded during the same period a year earlier.

According to the brokerage house, 21 companies got listed in the first half of the year, the same number as a year earlier, but the IPO value came to just 780 billion won, far lower than 4.76 trillion won.

Major IPOs in the offing in H2 - 2


(END)

HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!