Five companies are in the bull pen to go public this year in Korea that includes Jin Air, the country’s second initial public offering of a budget carrier.

Jin Air, wholly owned by the country’s top full-service flag carrier Korean Air, will price offering of 2.4 million shares at a band of 26,800 won ($25) to 31,800 won through Nov. 29-30 book-building. It hopes to use the proceeds to add its fleet. The nine-year-old LCC has been enjoying an average 70 percent annual jump in profits for the last three years. It aims to bolster its fleet to 38 including jumbo jets to offer regular flights to Europe by 2020. Mirae Asset Daewoo Securities is its IPO underwriter with Korea Investment & Securities, NH Investment & Securities, Samsung Securities and KB Securities in the syndicate. The shares will begin trading on the Kospi from Dec. 8.

Shares of CTK Cosmetics Co. will be available for subscription on Nov. 27-28 with IPO set at the highest end of 55,000 won per share. A total of 400,000 shares will go to the public for the IPO worth 110 billion won. Mirae Asset Daewoo Securities and Shinyoung Securities are its IPO advisers. The company plans to use the proceeds for investment in the U.S. and research and development.

Mecaro Co., a semiconductor part maker, also receives subscriptions from the public this week, with its IPO priced at 33,000 won a share, beyond the desired band as semiconductor boom is expected to go on for a while. A total of 400,000 shares will be allocated for individual investors for the IPO worth 60 billion won. Subscription is available at Korea Investment & Securities.

Dong Yang Piston Co., an auto-part maker, will receive subscriptions on Nov. 28-29 with an IPO price of 5,700 won per share for 660,000 shares set for the public. Its IPO adviser is IBK Securities and Daishin Securities.

Dongbu SPAC No. 5, a type of investment fund for business acquisition, will be open to the public for subscription from Nov. 30 to Dec. 1.

By Chung Woo-sung and Minu Kim

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