Korean online auctioneer prices Nasdaq IPO at premium to eBay
Gmarket secures $139.1 million as strong growth projections and Yahoo! support lead investors to submit orders for 15 times the deal size.
Gmarket has raised $139.1 million from its Nasdaq IPO. Investors appear to have ignored the still shaky market environment and bought into the companyÆs quest to become the top e-commerce marketplace provider and online auctioneer in Korea.
According to sources familiar with the deal, institutional investors ordered 15 times the amount of shares available, which allowed joint bookrunners Goldman Sachs and Cowen Co to fix the price at the top end of the indicative range at $15.25 per American...
To continue reading, please login or register for free