South Korea’s LG CNS launches IPO for up to $817 mln, term sheet says

SYDNEY: South Korean IT services provider LG CNS started book building on Monday to raise up to $817 million in an initial public offering (IPO), according to a term sheet reviewed by Reuters.

There are 19.37 million shares being sold in the deal in a price range of 53,700 to 61,900 Korean won, the term sheet said.

LG Group to invest $74.4bn over next 5 years

That price range would value LG CNS between $3.5 billion and $4.1 billion, the term sheet showed.