Korea's Youngone launches $130 million GDR offering

The OEM manufacturer of garments opened the order books yesterday for what is set to be the first equity deal of size in Korea this year.

Korea's Youngone launches $130 million GDR offering
Youngone's Seoul headquarters

Youngone Corp, a Seoul-headquartered original equipment manufacturer OEM of garments, opened the order books yesterday for its debut offering of global depository receipts GDRs that could raise about $120 million to $130 million, a source said yesterday.

The deal is set to be the first equity deal of size this year in Korea, where the biggest straight equity deal so far has been a $50 million follow-on by Hansol Technics, according to Dealogic.

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