April 27, 2018 / 6:30 AM / 3 months ago

S.Korea's Air Busan picks advisers for IPO this year

SEOUL, April 27 (Reuters) - South Korea’s Air Busan Co Ltd, a budget airline in which Asiana Airlines Inc owns a substantial stake, said on Friday it chose advisers for a planned initial public offering (IPO) this year.

The company has chosen Mirae Asset Daewoo and NH Investment & Securities to advise its planned IPO, Air Busan said in a statement.

Asiana owns a 46 percent stake in Air Busan, as of end-2017, according to an Air Busan filing. The budget carrier reported 2017 revenue of 561.7 billion won ($522.75 million) and operating profit of 34.5 billion won.

$1 = 1,074.5100 won Reporting by Joyce Lee, Editing by Sherry Jacob-Phillips

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