LG POWERCOMM PLANS IPO, EYES DECEMBER LISTING

Seoul
The Economic Times

Broadband provider LG Powercomm, owned by LG Dacom and KEPCO, said on Wednesday it would file for an initial public offering to list its shares on South Korea's main board as early as in December.

Powercomm has picked Woori Investment & Securities to handle the IPO and will seek the Korea Exchange's preliminary listing approval this week, a company spokesman said.

"We will have to monitor market conditions but if everything proceeds without delay, trading can start in late December," the spokesman said. Fixed-line operator LG Dacom owns 45.43 per cent of LG Powercomm and Korea Electric Power Corp (KEPCO) holds another 43.13 per cent in the firm.