The battery substance maker SK IE Technology lifted US$2bn from its initial public providing (IPO), a media report claimed.
SKIET shares have been priced at KRW105,000 each and every which was the leading of the array announced in a regulatory submitting final thirty day period to elevate about KRW2.two trillion (US$1.98bn), Reuters described, citing a corporation statement.
The listing, which father or mother corporation SK Innovation claimed would come about on eleven Might, would be the largest in South Korea considering that Might 2017, in accordance to Korea Trade facts.
The pricing values the battery substance maker at KRW7.5 trillion which, analysts told Reuters, need to be sufficient lift the corporation into the benchmark KOSPI two hundred index.
SKIET would offer you about 8.6m new shares, elevating about 898bn won, the report claimed.
SKIET supplies battery separators to SK Innovation, LG Electricity Answer, Samsung SDI, Panasonic and other people, Reuters claimed.
“Income lifted by issuance of new shares will be utilized for our capital expenditure investment decision,” Rho Jae-sok, CEO of SKIET claimed not too long ago, introducing the corporation options about KRW700-KRW800bn of yearly capex spending for some time, in accordance to Reuters.
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