Samsung SDS in $1.1 Billion IPO

November 10, 2014

Cleary Gottlieb represented Samsung SDS and the selling shareholder in Samsung SDS’s Won 1.16 trillion (approximately $1.10 billion) IPO of common shares. Goldman Sachs, J.P. Morgan and Korea Investment & Securities served as joint bookrunners for the international tranche of the offering. The shares were sold through a public offering in Korea and a Rule 144A/Reg. S offering elsewhere. The deal priced at the high end of the expected price range on October 31 and closed on November 10. The common shares began trading on the KRX KOSPI Market of the Korea Exchange on November 14.

Samsung SDS is the leading provider of information technology and logistics-related outsourcing services in Korea and is one of the flagship companies of the Samsung Group, which is the largest business group in Korea. Samsung SDS debuted as the fourth largest company on the Korea Exchange by market capitalization, as the trading price of the common shares doubled at opening.