April 18, 2024
Industrials
Air Busan wins preliminary approval for IPO
[THE INVESTOR] Low-cost carrier Air Busan won approval on Nov. 22 for its planned initial public offering on the country’s main exchange, the bourse operator said.
After conducting a preliminary screening, the Korea Exchange said it found Air Busan suitable for going public on the KOSPI market.
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The approval cleared the way for the budget unit of Asiana Airlines, the country’s second-biggest full-service carrier, to debut on the market either in December or early next year.
Details of its share price band are not presently available.
Last year, Air Busan reported a net profit of 28.5 billion won (US$25.30 million) on sales of 561.7 billion won.
Mirae Asset Daewoo and NH Investment & Securities are lead managers for the planned listing, according to Air Busan.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
