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Air Busan files preliminary screening for IPO

2018/09/13 17:03

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SEOUL, Sept. 13 (Yonhap) -- Air Busan Co., one of South Korea's low-cost carriers, has applied for a preliminary screening for its planned initial public offering (IPO), an official of the country's bourse operator said Thursday.

The budget unit of Asiana Airlines Inc., the country's second-biggest full-service carrier, could win approval from the Korea Exchange by November if there are no problems, the source said.

The carrier, if approved, could debut on the main KOSPI market either in December or early next year, he said.

Details on the price band were not immediately available.

Last year, Air Busan's net profit came to 28.5 billion won (US$25.3 million) on sales of 561.7 billion won.

The two lead managers, Mirae Asset Daewoo Co. and NH Investment & Securities Co., have entered the process to list shares of the budget carrier on the Korea Exchange, according to Air Busan.

Air Busan's main office in Busan (Yonhap) Air Busan's main office in Busan (Yonhap)