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Biz News Korea(Eng)
S. Korean PEFs to add some juice to IPO market
- Collected
- 2017.02.12
- Distributed
- 2017.02.13
- Source
- Go Direct
According to the investment banking industry Friday, Daehan Cement Co., solely owned by local private equity firm Hahn & Company, plans to submit an application for a preliminary IPO review to the Korea Exchange (KRX) within the first half. Its lead manager is NH Investment & Securities Co. Should the listing process go as planned, the firm will go public sometime in the latter half this year.
In 2012, Hahn & Company bought a 100 percent stake in Daehan Cement that had been placed under court management since 2009 at 300 billion won ($260.9 million). The private equity firm plans to offer its shares to the public leaving the management stake to redeem some of its investment.
It assigned KEB Hana Bank to arrange a refinancing scheme worth 100 billion won.
ING Insurance Korea, now under the ownership of South Korea’s largest private equity fund MBK Partners L.P., applied for a preliminary initial public offering (IPO) review to the KRX Thursday. MBK Partners weighed both options of IPO and equity sale, and chose to push ahead with the IPO of the insurer, the nation’s fifth-largest, which is expected to fetch up to 1.5 trillion won once it joins the bourse.
Samyang Optics Co., camera lens manufacturer fully owned by private equity firm VIG Partners, also sought preliminary approval for its listing from the KRX on Jan. 24. This is its second attempt to go public after the one withdrawn in late 2015 due to lackluster demand during a book building process.
By Kang Doo-soon and Song Gwang-sup
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]