Jin Air (LJ, Jeju) has seen strong demand for its stock ahead of its upcoming Initial Public Offering (IPO). In a regulatory disclosure, the Korean Air (KE, Seoul Incheon) unit said with its shares priced between KRW26,800-31,800 won (USD24.80-29.43) per share, it expected to raise KRW381.6 billion won (USD350 million).
According to Maeil Business News, during bookbuilding this week, 736 institutional investors submitted bids for the LCC's stock. A total of 30 million shares will be listed with 12 million available to the public once Jin Air lists on December 8.
