Korea's first IPO available to foreigners prices high
Samsung Card prices its $619 million offering 6.7% above the top of the range following strong demand and a shift in sentiment towards the Korean market.
Samsung Card, a leading Korean credit card issuer and the consumer finance unit of the Samsung Group, will raise W576 billion $619 million from its initial public offering after fixing the price 6.7% above the top of the earlier indicated range.
Being the first Korean IPO with an international tranche, all eyes were on this offering, but the strong demand suggests investors are already comfortable with the new structure. The international tranche, which accounted for 30% of the total deal,...
To continue reading, please login or register for free