Air Busan Co., one of South Korea's six low-cost carriers, said on Nov. 23, 2018 that it will list its shares on the country's main stock exchange in late December.
The budget carrier obtained preliminary approval from the Korea Exchange for the initial public offering (IPO) on Nov. 22, 2018.
The airline aims to raise funds worth 18.7 billion won to 20.8 billion won (US$17 million) at 3,600 won to 4,000 won per share in the IPO. The final stock price will be decided in mid-December, the company said in a statement.
The IPO is aimed at enhancing the value of the company and improving working conditions for all employees going forward, it said.
Mirae Asset Daewoo Co. and NH Investment & Securities Co. are lead managers in the IPO.
Air Busan, headquartered in the southern port city of Busan, is one of two low-cost affiliates of Asiana Airlines Inc. Air Seoul Co. is the other budget affiliate of Asiana, the country's second-biggest full-service carrier after Korean Air Lines Co. (Yonhap)