이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Korea’s ready-made concrete maker Sampyo seeks to go public
- Collected
- 2016.07.08
- Distributed
- 2016.07.11
- Source
- Go Direct
According to the investment banking industry on Thursday, Sampyo has begun looking for underwriting agent for the IPO. It will receive proposals next week and soon pick a security company to lead the IPO.
Sampyo would go public in half a century since it was founded in 1966. The company recorded an operating profit of 85.6 billion won ($73 million) on sales of 1.1 trillion won on a consolidated basis last year. The market estimates that market capitalization of Sampyo would exceed 1 trillion won after going public.
The company is expected to use the IPO proceeds to improve financial soundness. It took out a loan of 200 billion won backed by a stake it holds in Tongyang Cement when it purchased Tongyang Cement last year together with Korea Development Bank Private Equity at 794.3 billion won. The acquisition sent the company’s debt ratio six times higher than the levels of the previous year.
The largest shareholder of Sampyo is its chairman and CEO Chung Do-won holding 81.9 percent stake, and his eldest son and vice president Chung Dae-hyun is the second largest shareholder with a 14.07 percent stake. The majority shareholders are expected to unload some of their stake for new issues. The company declined to give timing for the IPO.
By Chun Kyung-woon and Song Gwang-sup
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]