Jeju Air to be the first LCC in Korea to go public
Korea’s largest low-cost carrier (LCC) Jeju Air is to go public on Friday, the Korea Exchange said on Wednesday. It will be the nation’s first LCC to go public. AK Holdings, the holding company of AK Department Store and other Aekyung Group affiliates, holds 67.5 percent of the carrier’s share, being the largest shareholder. The per-share price will be determined during the first hour of the stock market opening on Friday, which should be somewhere between 90 and 200 percent of the company’s initially publicly offered price of 30,000 won. Jeju Air last year saw an annual sale of 510.6 billion won and net revenue of 32 billion won last year, according to the Korea Exchange.