SK CC drew strong enough demand for its initial public offering to upsize the deal slightly and still price at the mid-point of the indicated range, according to sources. At a final deal size of W540 billion $462 million, this is the second largest Korean IPO to date and the upsize is a welcome change after a poor response to several other Korean listings in the past couple of months.
Two weeks ago, Posco Engineering and Construction called off its $770 million to $920 million IPO, citing valuation issues. A source said the issuer had not been willing to accept a price below the initial range, which is where the deal came...
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