LIG Nex1 IPO on the Korea Exchange
Korean missile and defence electronics maker LIG Nex1 listed on the KOSPI market, with its private equity investors selling down; parent LIG kept 46.4%.
- Company
- LIG Nex1
- Type
- IPO
- Status
- Completed
- Date
- 2 Oct 2015
- Value
- KRW 524.4bn
- US$ equivalent
- US$464m
- Value basis
- KRW 524.4bn at KRW 76,000 a share: 2,000,000 new shares (KRW 152bn) and 4,900,000 existing shares sold by financial investors (KRW 372.4bn)
- Region
- South Korea
- Segment
- Listed equity
Parties
- LIG Nex1 issuer
- KoFC-Stick Growth Champ 2010-2 private equity fund selling shareholder
- Worden One SPC selling shareholder
Key terms
- Offer price
- KRW 76,000 a share
- Subscription and payment
- 22-23 Sep 2015; paid 25 Sep 2015
- Underwriters
- NH Investment & Securities (lead, 50%) and Korea Investment & Securities (co-manager, 22%), with Hana, Daishin, KB, Dongbu, Daewoo, Mirae Asset and LIG Investment
- LIG stake after
- 46.4%
Sources
- LIG Nex1 final terms registration statement (DART) dart.fss.or.kr · 21 Sep 2015
- LIG Nex1 securities issuance results report (DART) dart.fss.or.kr · 30 Sep 2015
Record DEF-INV-2015-0005. Investments are kept apart from the financings register and never counted in debt totals.
