LG CNS Said to Be Poised to Price IPO at Top of Marketed Range
- Deal is potentially South Korea’s biggest listing since 2022
- Demand mainly from local investors rather than international
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LG CNS Co. is poised to price its initial public offering at the top of its marketed range, people familiar with the matter said, putting the deal on course to raise 1.2 trillion won ($823 million) and become South Korea’s biggest listing in three years.
Shares of the unit of LG Corp. will likely be priced at 61,900 won, according to the people, who asked not to be named discussing a private matter. Demand largely came from local investors, while international funds were lukewarm to the offering amid political instability in the country, according to the people. Deliberations are ongoing and the pricing may change, the people said. The final offer price is scheduled to be announced on Friday.