S.Korea cable operator CJ Hellovision raises $267 mln in IPO

HONG KONG Mon Oct 29, 2012 5:00am EDT

HONG KONG Oct 29 (Reuters) - CJ Hellovision Co Ltd, South Korea's largest cable television company, is raising about $267 million through an initial public offering (IPO) by selling shares near the bottom of an indicative range, according to a regulatory filing on Monday.

The company priced the IPO at 16,000 won per share, after marketing the offer in a 14,000-19,000 won range. A third of the proceeds has been earmarked for mergers and acquisitions, CEO Byun Dong-shik told reporters last week.

CJ Hellovision is controlled by South Korean conglomerate CJ Corp through its CJ O Shopping unit.

JPMorgan was global coordinator for the offer, with Daewoo Securities and HI Securities also acting as bookrunners.

($1 = 1096.9500 Korean won)

(Reporting by Joyce Lee; Writing by Denny Thomas; Editing by Michael Urquhart and Matt Driskill)

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