Investors go Cuckoo for Korean rice cooker

Korea’s best selling domestic rice cooker manufacturer raised W254 billion ($247.8 million) after pricing its initial public offering at the top of the range.

Investors go Cuckoo for Korean rice cooker

Cuckoo Electronics has raised W254 billion $247.8 million after pricing its Korean initial public offering at the top of the range.

Korea’s best selling domestic rice cooker manufacturer sold 2.45 million shares at W104,000 each, the top end of the initial W80,000 to W104,000 range, a source close to the deal told FinanceAsia.

Strong domestic institutional uptake allowed the issuer to price shares at the top, which values the company...

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