Kumho Tire roadtests IPO

Korean Tire manufacturer presents investors with a turnaround story less than two years after its forced sale to the Military Mutual Aid Association.

Kumho Tire will finish pre-marketing an unusual dual listing in Seoul and London today January 18 via lead managers JPMorgan and Daishin Securities. The group hopes to raise $300 million to $400 million from the deal, which includes a strategic investment by Cooper Tire.

The US tire manufacturer has agreed to purchase 11% of the company's enlarged share capital at the eventual IPO price. Pre deal the company has a shareholding structure whereby Korea's Military...

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