The float could be the largest out of Korea this year, possibly trouncing Mirae Asset Life Insurance and Innocean Worldwide, which are currently being pre-marketed ahead of their launches this month, said a banker close to LIG.
NH Investment & Securities is the lead banker on LIG's listing while Korea Investment & Securities will act as joint lead manager, with other underwriters to follow as the trade gets underway.
Final approval from the Korean regulator is expected to take about two months or less and bankers are aiming to get LIG listed by October. LIG Corp, an unlisted holding company of LIG Group, holds a 51% stake in LIG.
The arms manufacturer got an early start on its IPO this year, going on non-deal roadshows in March to be introduced to investors. LIG’s production includes anti-submarine guided missiles and underwater surveillance systems.
The issuer mandated banks for the listing in August last year.