South Korea’s SM Line looks to raise $710m from Seoul IPO

South Korea’s SM Line is hoping to raise up to KRW 846bn ($710m) from an initial public offering in Seoul, according to a regulatory filing.

The mid-size containership owner is offering 33.8m shares, including 16.9m new shares, at between KRW 18,000 and KRW 25,000 per share.

The company plans to undertake a book-building exercise in early November, with subscriptions due to take place between 4 and 5 November.