South Korea's Credit Suisse has withdrawn its KRW1.6tn ($1.5bn) initial public offering (IPO) because of valuation issues.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 SK Lubricants. 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.
South Korea's SK Lubricants has withdrawn its KRW1.6tn ($1.5bn) initial public offering (IPO) because of valuation issues.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.