Jinro Gets New IPO Pricing Range

Leading South Korean alcoholic drinks firm Hite Holdings has confirmed that it has lowered the pricing range for the forthcoming listing of its Jinro soju subsidiary from KRW54,000-60,000 (US$44.87-49.85) to KRW45,000-50,000. Reacting to investor desire for better value, and reflecting some of the challenges inherent in the competitive soju marketplace, the new price is expected to raise some KRW648bn (US$538mn), down from a previous estimate of KRW708bn

To read the full article, please choose one of the following options: