LIG Nex1 triggers IPO as Korea tensions ease

Controlling shareholder LG Corporation agreed to take the Korean defence contractor public when it sold a 49% stake to PE investors in 2013.

Heightened tensions on the Korean peninsula will likely elevate interest in the $444 million initial public offering of Korean defence contractor LIG Nex1, according to two sources familiar with the matter.

Tensions between North and South Korea intensified sharply on August 20 when the North fired at loudspeakers broadcasting anti-Pyongyang propaganda across the heavily defended demilitarised zone dividing North and South.

South Korea reportedly responded with return fire, sending artillery rounds across the 38th parallel, as the demarcation line between the two Koreas is known, into the North.

While Seoul and Pyongyang dialed down tensions by reaching an agreement to end the standoff five...

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