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Photo = Yonhap news |
[Alpha Biz= Kim Sangjin] LG CNS Receives Over 21 Trillion Won in Public Offering, Setting High Demand for IPO
LG CNS has raised a total of 21 trillion won through its public offering, with an average subscription competition ratio of 122.91:1, according to the financial investment industry. The offering, which took place over two days, attracted total subscriptions for 683.17 million shares, far surpassing the 5.56 million shares available for individual investors.
The demand for the shares was high, as 2,059 institutional investors participated in the book-building process from September 9 to 15, with a competitive ratio of 114:1. LG CNS set its final offering price at the upper end of the desired range, 61,900 won per share, valuing the company at approximately 6 trillion won upon listing.
The company will proceed with the payment process on the 24th, with its listing on the KOSPI (Korea Securities Exchange) scheduled for the 5th of the following month.
KB Securities, Bank of America (BoA), and Morgan Stanley are the lead underwriters for the IPO, while Mirae Asset Securities, Daishin Securities, Shinhan Investment Corp., and JP Morgan are the co-underwriters.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
