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STIC-backed LIG Nex1 Co hires advisers for IPO

26 Aug 2014

korean defencePrivate equity-backed South Korean defence company LIG Nex1 Co has reportedly picked advisers for its planned IPO.

Woori Investment & Securities and Korea Investment & Securities will advise on the listing, which is expected to take place in 2016, said Reuters, citing sources with director knowledge of the deal.

The size of the IPO could reach KRW500bn ($490m), according to local media.

It was previously reported that Korean private equity firm STIC Investments bought a 49 per cent interest in the company for KRW420bn with the rest owned by LIG Corp.

Earlier this year AltAssets reported that STIC had raised more than $170m for its latest private equity fund.

STIC has raised $419m across its two previous private equity funds. It also has funds dedicated to mergers and acquisitions, secondary deals and venture capital investment.

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