Korea’s LG CNS, DN Solutions seek billions of dollars via Jan IPOs

Quick Summary:

The market has slowing down with the number of newly-listed companies on the Kospi down to five in 2023 and four in 2022 from 15 in 2021.“The IPO market has yet to be further depressed although K Bank postponed its IPO due to weak demand,” said a financial industry source.“More companies are eye on listings sooner as nobody knows if the market condition deteriorate further.” POTENTIAL VALUATION WOESTheir listings may face valuation concerns as they plan to go public to meet IPO deadlines, which they have pledged to financial investors such as private equity firms.

LG CNS, DN Solutions, K Bank and Seoul Guarantee Insurance are targeting IPOs in January on a hypothesis that there is a seasonal anomaly in the financial market where securities' prices increase in the month more than in any other month, according to the sources.

LG CNS, DN Solutions, K Bank, Seoul Guarantee Insurance Co.and Lotte Global Logistics Co.plan to go public in the first quarter, investment banking industry sources said on Friday.

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Category: Economy

Markets: South Korea

Topics: Companies Market Seoul Financial Solutions Bank Lotte Guarantee Global Month Sources

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Article Type: News Report

Published On: 2024-10-27 @ 13:13:29 (1 days ago)

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News Source URL: kedglobal.com

Language: English

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