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Mobility platform Socar to go public at far lower value

Korea Economic Daily LogoKorea Economic Daily1 mo ago

Mobility platform Socar to go public at far lower value - Korea Economic Daily

Quick Summary:

South Korea’s first mobility unicorn Socar Inc.has cut its IPO price by as much as 18% to push ahead with a stock market debut, according to industry banking sources.

Socar is the country’s first mobility unicorn, or a private company with a valuation of $1 billion or more.

Accordingly, the volume of its shares on offer could be reduced by 20% from the planned 4.45 million shares, ending up raising only 102 billion won.During the Aug.4-5 bookbuilding, a majority of institutional investors offered to buy the shares at less than 30,000 won apiece.


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Article Details

Author / Journalist: yhkim@hankyung.com (Yeonhee Kim)

Category: Economy

Topics: Year Socar Market Mobility Stock Billion Valuation Shares Platform Value Price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-09, 17:55:26

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Reading Time: 3 minutes read

Article Length: 423 words

Coverage Area: Korea, Republic of

Availability: Desktop Web, Mobile Web

News ID: 123509

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About Korea Economic Daily

Korea Economic Daily Logo

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 8 posts per day

Year Established: 1964

Headquarters: Korea, Republic of

News Last Updated: 3h ago

Coverage Areas: Korea, Republic of

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #91

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