S.Korea's SK C&C to raise up to $1.14 bln in IPO

SEOUL, June 14 (Reuters) - SK C&C Co, the technology outsourcing arm of South Korea's SK Group, plans to raise up to $1.14 billion in its initial public offering (IPO), according to a term sheet obtained by Reuters.

SK C&C has set the price range for its IPO at 115,000-132,000 won ($110.1-$126.4), said the term sheet, sent out late on Friday.

The price is expected to be set the week of June 30.

The Korea Exchange on Tuesday approved SK C&C's IPO, in which the company will sell 9 million shares or 45 percent of its stock.

Woori Investment & Securities is the representative lead manager for the IPO and Merrill Lynch MER.N is the international tranche coordinator.

SK C&C had 2.4 trillion won in assets at the end of March and earned 37 billion won in net profit in the first quarter. ($1=1044.0 Won) (Reporting by Rhee So-eui; Editing by Louise Heavens)