Korean auto-parts maker raises $436 million from IPO

Mando shrugs off the negative market environment to price above the mid-point in a week when several other deals are either postponed or downsized.

Mando Corporation, a Korean manufacturer and supplier of auto parts, managed to steer through last week's severe battering of global equity markets without so much as a scratch, raising W498 trillion $436 million from its initial public offering. The institutional offering was about 15 times covered, allowing the company, which specialises in brakes, steering and suspension systems and components, to fix the price just above the mid-point of the range at W83,000.

A source said there wasn't much price sensitivity...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition