South Korean car-sharing startup Socar prices IPO below bottom end of range

SEOUL, Aug 9 (Reuters) - South Korean car-sharing platform Socar Inc said on Tuesday it expected to raise 102 billion won ($78.08 million) in its planned initial public offering (IPO).

Socar priced its IPO at 28,000 won per share, below the bottom end of an indicative price range, the company said in a regulatory filing.

The company added that it has revised down the number of shares available by 20% to 3.6 million new shares.

In June, it had planned to offer 4.6 million new shares in an indicative range of 34,000 to 45,000 won per share.

($1 = 1,306.2800 won)

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Reporting by Heekyong Yang, Editing by Louise Heavens

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