South Korea’s LG CNS launches IPO for up to $817 million, term sheet says

SYDNEY (Reuters) – South Korean IT services provider LG CNS started bookbuilding on Monday to raise up to $817 million in an initial public offering (IPO), according to a term sheet reviewed by Reuters.

There are 19.37 million shares being sold in the deal in a price range of 53,700 to 61,900 Korean won, the term sheet said.

That price range would value LG CNS between $3.5 billion and $4.1 billion, the term sheet showed.

(Reporting by Scott Murdoch; Editing by Tom Hogue)