SK Lubricants pulls $1.5bn IPO on valuation hurdles

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By Jonathan Breen
27 Apr 2018

South Korea’s SK Lubricants has withdrawn its up to W1.6tr ($1.5bn) IPO after failing to get the desired valuation, according to a filing with the country’s financial regulator on Friday.

No shares had been allocated to institutional investors and no offer was made to retail investors, meaning there is no issue with investor protection.

Citi and Credit Suisse had been leading the IPO, which kicked off on April 16. The roadshow was set to wrap up this week, ...

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