South Korea’s SK Lubricants has withdrawn its up to W1.6tr ($1.5bn) IPO after failing to get the desired valuation, according to a filing with the country’s financial regulator on Friday.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, ...
South Korea's SK Lubricants has withdrawn its KRW1.6tn ($1.5bn) initial public offering (IPO) because of valuation issues. A filing with the country's financial regulator showed the company failed to get its desired valuation for the IPO, which was being led by Citi and Credit Suisse. No shares had been allocated to institutional investors and no offer was presented to retail investors, so the withdrawal did not raise any concerns about investor protection.