SEOUL Oct 29 South Korea's SK Lubricants Co
has picked Samsung Securities and Korea
Investment & Securities as lead managers for its planned initial
public offering, a source with direct knowledge of the matter
The planned offering could be in the range of $1.3-$1.8
billion, and should be one of the biggest Korean deals of 2013,
IFR, a Thomson Reuters's publication, has previously reported.
Credit Suisse and Citigroup were chosen as
co-bookrunners, along with local banks KDB Daewoo Securities
and Mirae Asset Securities, the source
SK Lubricants, a motor oil and auto transmission fluid
manufacturer, is wholly owned by South Korea's largest oil
refiner SK Innovation.
An SK Innovation spokesman was not immediately available.
The company has previously said it was exploring various options
to enhance the value of SK Lubricants, but has declined to
The SK Lubricants sale would rank behind Hyundai Oilbank's
planned $2 bln IPO in terms of size among local
offerings, although the latter has been delayed pending improved
market conditions, investment banking sources told Reuters.
(Reporting by Joyce Lee; Editing by Richard Pullin; Editing by