UPDATE 1-SK C&C prices $380 mln IPO at mid-range -sources

* Prices Seoul IPO at middle of indicative range

* SK Telecom, SK Networks set to exit part of their holdings

* No fresh offers from SK C&C

(Adds details)

SEOUL, Oct 30 (Reuters) - South Korean technology services company SK C&C Co Ltd priced its initial public offering on Friday at the middle of its indicated range to raise 450 billion won ($380 million), two sources with direct knowledge of the matter said.

The public debut of the affiliate of mobile carrier SK Telecom Co Ltd (017670.KS) comes after a string of Asian offerings have met a lukewarm reception in the past few weeks due to high valuations and lingering economic uncertainties.

Steelmaker POSCO's (005490.KS) construction arm pulled its $926 million public offering last week, as investors were reluctant to subscribe to the shares in the indicated price range.

SK C&C, SK Group's technology service arm, priced the IPO at 30,000 won per share, compared with 28,000-32,000 won range given earlier this month, the sources told Reuters, asking not to be named before a public announcement due later in the day.

The company declined comment.

SK C&C is offering 15 million shares held by South Korea's top mobile phone operator SK Telecom and trading firm SK Networks (001740.KS), with 10 million coming from the mobile carrier. No fresh issues will be offered from SK C&C itself.

The initial public offering will help parent SK Group complete its transformation into a holding company format by resolving its cross-holding structure.

SK C&C is the biggest shareholder in energy-to-construction firm SK Holdings (003600.KS) with a 32 percent stake as of end-June.

SK C&C's IPO price represents about 4.2 times its 2008 earnings, compared with domestic peers Samsung SDS' 17 times, and LG CNS' 18 times, according to Reuters calculations based on over-the-counter prices at www.jstock.co.kr.

Both Samsung SDS and LG CNS are unlisted.

The IPO follows the 590.4 billion won offering of top South Korean spirit maker Jinro Ltd last month, which had to set its IPO price below its indicated range.

Woori Investment & Securities (005940.KS), Korea Investment & Securities (071050.KS) and Daishin Securities (003540.KS) are lead managers for the public offering. Merrill Lynch is a coordinator for the IPO's international tranche.