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