LG CNS Achieves $823 Million IPO Success
Deal News | Feb 05, 2025 | Paul Hastings
Paul Hastings LLP has advised LG CNS on their significant $823 million initial public offering (IPO), marking the largest IPO in South Korea since January 2022. LG CNS, an integral part of the LG Group, is recognized for its specialization in digital transformation technologies. Each of LG CNS and Macquarie Korea Asset Management sold 9,688,595 common shares at KRW61,900 per share at the top end of the indicative range. The transaction was managed by BofA Securities, Morgan Stanley, and KB Securities as joint global coordinators and joint bookrunners, along with J.P. Morgan, Mirae Asset Securities, Shinhan Securities, and Daishin Securities. Paul Hastings’ team was notably led by partner Iksoo Kim. This IPO follows a precedent of major offerings by companies such as LG Energy Solutions and others, facilitated by Paul Hastings' prominent Korea practice.
Sectors
- Technology
- Financial Services
Geography
- South Korea – LG CNS is a South Korean company, and the IPO and listing occurred on the Korea Exchange.
Industry
- Technology – The article discusses LG CNS, a company specializing in digital transformation, artificial intelligence, and data analytics.
- Financial Services – Involves the IPO process, requiring expertise in financial services, especially from investment banks and asset management.
Financials
- 823,000,000 – The amount raised by LG CNS through its IPO.
- 61,900 – Price per share for the IPO, at the top end of the indicative range (in KRW).
- 1.2 trillion – The total nominal value of the IPO in KRW.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| LG CNS | Target Company | Company | A leading Korean IT service provider and part of the LG Group, specializing in digital transformation. |
| Paul Hastings LLP | Legal Advisor | Company | International law firm advising LG CNS on its IPO. |
| Macquarie Korea Asset Management | Selling Company | Company | Shared seller in the LG CNS IPO. |
| BofA Securities, Morgan Stanley, KB Securities | Joint Global Coordinators and Joint Bookrunners | Company | Provided financial services for coordinating and bookrunning the IPO. |
| J.P. Morgan, Mirae Asset Securities, Shinhan Securities, Daishin Securities | Joint Bookrunners | Company | Provided financial services as bookrunners in the IPO. |
| Iksoo Kim | Partner Leading Advisory Team | Person | Led the Paul Hastings team advising on the IPO. |