Kumho IPO raises less than hoped

London–Kumho Tire’s initial public offering in London and Seoul raised a total of $363.5 million, in the middle of the expected price range. $266.5 million was raised on the London Exchange, while remainder was raised on the Seoul market. The flotation took place on Friday 4 Feb.

A total of 40 percent of the total capital was available, but Cooper Tire and Rubber was guaranteed to gain 11 percent of the total capital at the IPO price.

Because of the Chinese New Year, the Korean portion will…

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