Hi-mart in Won 420 Billion IPO

June 29, 2011

Cleary Gottlieb represented Hi-mart Co. and the selling shareholders in Hi-mart’s Won 420 billion (approximately $385 million) IPO of common shares. Citi served as joint international bookrunner and Daewoo Securities Co. served as joint international and sole domestic bookrunner. The shares were sold through a public offering in Korea and a Rule 144A/Reg. S offering elsewhere. The deal priced on June 17 and closed on June 24. The shares began trading on the KRX KOSPI Market of the Korea Exchange on June 29.

Hi-mart is the largest consumer electronics retailer in Korea.