South Korea

South Korean firm Aekyung Industry Co is preparing to launch an IPO that could be up to W231.9bn ($213.3m), according to filing with the Korean market regulator on Thursday.

South Korea’s Daegu Bank pulled off a bold $300m bond on Wednesday, choosing to price a deal with a generous new issue premium rather than delay the sale any further.

Three Asian debt issuers launched dollar bonds on Wednesday, taking advantage of a respite from the market turmoil that all but shut the debt market earlier this week.

South Korea’s Hankook Tire Co grabbed $300m on the back of an impressive $2.3bn book on Wednesday in its debut international bond outing.

Korea Southern Power Co (Kospo) has priced the first public dollar bond from South Korea amid a US government shutdown. But the 144A deal saw little fallout from that. Easing tensions on the Korean peninsula, the quality of its credit and demand for short-dated paper ensured investor interest.

Korea Southern Power Co (Kospo) is returning to the offshore dollar bond market after almost five years, becoming the first issuer from the country to tap international investors in 2018.

South Korean firm SK Biopharmaceuticals Co has sent a request for proposals to foreign banks and securities firms as it looks for candidates to lead its IPO, according to a source familiar with the matter.

South Korean mobile messaging platform Kakao Corp raised $1bn this week from an issue of Global Depository Receipts (GDRs), defying fears it would suffer from its link to a cryptocurrency exchange.

Kakao Corp, the South Korean mobile messaging platform, launched a Global Depositary Receipts offering of $1bn to the market on Wednesday.

South Korea’s Woori Bank sealed a $300m floating rate Formosa bond on Tuesday.

Hyundai Oilbank, a subsidiary of shipbuilding giant Hyundai Heavy Industries, has appointed six firms to run its potential multi-billion-dollar listing expected later this year.

Kyochon F&B, operator of South Korean fried chicken franchise Kyochon Chicken, is considering a domestic IPO, according to sources familiar with the matter.