Paul Hastings Advises LG CNS on Its $823 Million IPO and Listing on the Korea Exchange

Paul Hastings LLP advised LG CNS, a leading Korean information technology service company and a member company of the LG Group, on its $823 million (KRW1.2 trillion) global offering and listing on the Korea Exchange. LG CNS and Macquarie Korea Asset Management each sold 9,688,595 common shares at KRW61,900 per share, priced at the top end of the indicative range. The transaction is South Korea’s largest IPO since January 2022.

Founded in 1987, LG CNS is a leading digital transformation (DX)-specialized company in Korea that provides a wide range of services and solutions based on DX technologies, including artificial intelligence, data analytics and cloud computing.

BofA Securities, Morgan Stanley and KB Securities acted as the joint global coordinators and joint bookrunners, and J.P. Morgan, Mirae Asset Securities, Shinhan Securities and Daishin Securities acted as the joint bookrunners.

Paul Hastings’ leading Korea practice has advised on a number of landmark capital markets transactions since 2021, including LG Energy Solution’s $10.7 billion IPO, Krafton’s $3.8 billion IPO, KakaoBank’s $2.2 billion IPO, SK ie technology’s $2 billion IPO, KakaoPay’s $1.3 billion IPO, Hyundai Heavy Industries’ $923 million IPO, HD Hyundai Marine Solution’s $545 million IPO, HK inno.N’s $523 million IPO, Doosan Robotics’ $317 million IPO, Shift Up’s $315 million IPO and K Car’s $283 million IPO.

Partner Iksoo Kim led the Paul Hastings team, which also included partner Dong Chul Kim, associate Sye Myung Kim and attorney David Park.

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