SEOUL (Reuters) - Cheil Industries Inc, widely seen as the de facto holding company of Samsung Group [SAGR.UL], is likely to offer around 1.5 trillion won ($1.41 billion) worth of shares in its upcoming initial public offering (IPO), a person with knowledge of the matter said on Wednesday.
Cheil may sell the shares at a price ranging from 45,000 won to 55,000 won each, according to a preliminary plan submitted by the company to South Korea’s stock exchange, said the person, who declined to be identified as the listing process is so far private.
After a stock split approved by Cheil shareholders in August, such an offer range would give Cheil a market capitalization of 6 trillion to 7 trillion won.
Cheil is likely to offer around 20 to 25 percent of its total shares, including new issuance and shares currently held by existing shareholders, the Korea Economic Daily reported earlier on Wednesday without saying where it obtained the information.
Cheil, which changed its name from Samsung Everland Inc in July, is likely to list as early as December after announcing IPO plans earlier this year.
A Cheil spokesman declined comment.
Reporting by Joyce Lee