Latham & Watkins has advised the underwriters on LG CNS’s KRW1.2 trillion (US$821 million) initial public offering (IPO) on the KRX KOSPI Market of the Korea Exchange, which included an international offering pursuant to Rule 144A and Regulation S. BofA Securities, Morgan Stanley, and KB Securities served as the joint global coordinators and J.P. Morgan, Mirae Asset Securities, Shinhan Securities, and Daishin Securities served as the joint bookrunners for the IPO.
The shares were priced at KRW61,900 and LG CNS and Macquarie Korea Asset Management each sold 9,688,595 common shares in the offering. The transaction marks the largest IPO in Korea since 2022.
The Latham team was led by Hong Kong partner Benjamin Carale and Seoul counsel Diona Park, with associates Yejin Kim and Wang Zhang. Advice on US tax matters was provided by Chicago partner Rene de Vera; and on regulatory matters by New York partner Jason Hegt, with associates Eric Green and Thomas Lane.
