Cuckoo's calling investors to Korean IPO

Korea's top selling rice cooker brand launches IPO, and seeks to raise up to $247 million. Earnings will be driven by exports and consumers upgrading rice cookers.

Cuckoo Electronics, Korea's best selling domestic rice cooker manufacturer, has launched a W196 billion - W254.9 billion $190 million - $247 million IPO via Woori Investment Securities. Institutional book building for the 2.45 million share deal runs from July 23 - 24, with results published on July 28 and listing scheduled for August 7.

There is no separate international tranche for the deal, with foreign investors charged a 1% participation fee to take part in the domestic institutional tranche, which accounts for 60% of the deal. Retail investors will account for a further 20% and Cuckoo employees the remaining 20% according to a term sheet seen by FinanceAsia. ...

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