Jeju Air (7C, Jeju) says it is planning to issue a total of 5.5 million shares to the public during its IPO on the KRX (Korea Exchange) later this month. According to its prospectus, the LCC is looking to raise between KRW126.5 trillion (USD106 million) and KRW154 trillion (USD128 million) which will be used to bolster its growth plans.
To increase the likelihood of a strong public debut, the airline had planned to rename itself "AK Jeju Air" to more closely identify itself with parent firm Aekyung Group (AK). The move however, was resisted by shareholders, in particular the Jeju Special Self-Governing Provincial Government, which owns 4.54% stake.
