Korea’s Youngone prices GDR at 2.7% discount

The OEM garment maker raises $113.8 million from Korea's first big equity deal this year.
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Youngone makes outdoor gear for North Face, among others
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<div style="text-align: left;"> Youngone makes outdoor gear for North Face, among others </div>

Youngone Corp, a Seoul-headquartered original equipment manufacturer OEM of garments, has raised $113.8 million from its debut offering of global depository receipts GDRs, after fixing the price at a 2.7% discount to Wednesday’s close of its common shares.

The fully marketed deal priced late Wednesday evening after a roadshow took the management to Hong Kong, Singapore and London on Monday through Wednesday this week. There was no indicative price range for the transaction as the deal was carried out against a live market.

This is the first GDR follow-on by a Korean company since OCI, a specialist chemicals producer, raised $700 million in May...

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