Cheil raises $1.4b in landmark Korean IPO

Listing of the de facto holding company for Samsung Group is Korea's largest for four years, surpassing Samsung SDS's month-old share sale.

Cheil Industries, the de facto holding company for Samsung Group, raised $1.4 billion in an initial public offering of its shares on Friday, South Korea’s biggest IPO in four years.

Cheil sold 28.7 million shares at W53,000 per unit, at the top of the indicative W45,000 to W53,000 price range pitched by bankers.

The flotation met with exceptionally strong demand, attracting roughly $30 billion worth of orders from global institutional investors, according to bankers close to the deal. Books formerly opened two weeks ago.

“Basically anyone and everyone was in the book. We had well over 200 lines,” one banker told FinanceAsia...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222