[THE INVESTOR] Air Busan said on Nov. 23 it will list its shares on the country’s main stock exchange in late December.
The budget carrier has obtained preliminary approval from the Korea Exchange for the initial public offering. It aims to raise funds worth 18.7 billion won (US$16.56 million) to 20.8 billion won. The final stock price will be decided in mid-December, the company said in a statement.
The IPO is aimed at enhancing the value of the company and improving working conditions for all employees going forward, it said.
Mirae Asset Daewoo and NH Investment & Securities are lead managers for the IPO.
Air Busan, headquartered in the southern port city of Busan, is one of two low-cost affiliates of Asiana Airlines.
By Song Seung-hyun and newswires (firstname.lastname@example.org)