Samsung SDS restructures, files for initial public offering

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Samsung SDS restructures, files for initial public offering

Samsung SDS, a provider of technology services, filed for a 1.16 trillion won ($1.1 billion) initial public offering, as Korea’s largest business group restructures.

Stocks will be sold in the range of 150,000 won to 190,000 won, according to a prospectus filed with Korean regulators. The unit applied for preliminary approval to list with the Korea Exchange on Aug. 25.

The listing is another step in helping Jay Y. Lee, the heir apparent to Korea’s most powerful chaebol, restructure Samsung Group to retain control. The conglomerate is merging shipbuilding and engineering affiliates.

Bloomberg

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