IT services provider Samsung SDS has laid down a price range of $141 to $178 for its planned initial public offering (IPO) later this year, to raise about $1.1bn.
The price range has been determined based on the demand projections made by financial institutions.
The final IPO price will be fixed after the Financial Supervisory Service (FSS) reviews the company’s application.
Samsung Electronics owns a majority share of 22.58% in SDS, followed by Samsung C&T 17.08%.
Samsung Electronics vice-chairman Lee Jay-yong owns 11.25% and Samsung Electro-Mechanics 7.88%. Electro-Mechanics noted that it would put up its complete stake up for sale after the completion of the IPO.
Ship-maker Samsung Heavy Industries and Samsung Engineering have also signed a merger deal worth $2.5bn before the end of 2014.
Reports reveal that the South Korean firm is ramping up its efforts to ensure a smooth switch of ownership from Samsung chairman Lee Kun-hee, who has been hospitalised since May, to his son Jay Lee.
