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CORRECTED-Hyundai Motor advertising affiliate Innocean IPO raises $302 mln
July 6, 2015 / 7:28 AM / 2 years ago

CORRECTED-Hyundai Motor advertising affiliate Innocean IPO raises $302 mln

(Corrects headline and first paragraph to show amount is money raised in the IPO, not money raised by the company)

SEOUL, July 6 (Reuters) - Hyundai Motor Group’s advertising affiliate Innocean Worldwide Inc said on Monday its IPO raised 340.1 billion won ($302.2 million.

It priced the IPO at 68,000 won per share, around the middle of an indicative range of 64,000 to 71,000 won per share, in line with earlier Reuters reporting.

Innocean will issue 2 million new shares, while shareholders Chung Eui-sun, Hyundai Motor Group’s heir apparent, and his sister Chung Sung-yi will sell a combined 3.001 million existing shares, the company previously said in a filing. ($1=1,125.5700 won) (Reporting by Joyce Lee; Editing by Clarence Fernandez)

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