sk-cc-pulls-ipo-due-to-market-conditions

SK C&C pulls IPO due to market conditions

A sharp drop in the share price of SK Holdings erodes the value of the listing candidate, which was to be first Korean IPO with an international tranche this year.
Korean IT services provider SK CC has decided to cancel its initial public offering due to the depressed stockmarket conditions, which have led to a sharp decline in the volume of new listings across Asia in the first half of this year.

The Korean company, which is part of the SK group, was looking to sell between W1.04 trillion and W1.19 trillion $998 million and $1.15 billion worth of shares, which would have made it the largest Korean listing in more than two years û after Lotte ShoppingÆs W3.4 billion $3.5 billion deal in February 2006 - and the first this year with an international tranche. The IPO was due to price yesterday.

According...
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