LIG Nex1 $100m block launched amid Korea tensions

Pre-IPO investor STIC Investments has timed the sale of shares in the defense contractor just as tensions on the Korean peninsula rise.

Private equity firm STIC Investments completed a W122.1 billion $100 million sale of LIG Nex1 shares late Thursday, taking advantage of the stock's climb towards all-time highs due to heightened tensions on the Korean peninsula.

Korea's STIC, one of eight investors to take a combined 49% stake in the military contractor before the company listed on the Korea stock exchange last year, marketed 1.1 million LIG Nex1 shares at an indicative price range of W104,500 to W110,000 per share, according to a termsheet seen by FinanceAsia.

Targeted at institutional investors, the deal's price range implies a 3.9% to 8.7% discount to LIG Nex1’s...

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