Local bourse operator OKs Cheil Industries' IPO plan
SEOUL, Oct. 20 (Yonhap) -- South Korea's bourse operator Korea Exchange said Monday that it has approved Cheil Industries Inc's plan to list its shares on the local main stock market.
The de facto holding firm of South Korea's top conglomerate Samsung Group had filed for an initial public offering (IPO) on Sept. 19.
Cheil Industries, formerly known as Samsung Everland Co., earlier had said it plans to go public by the first quarter of 2015.
Lee Kun-hee, chairman of the group's flagship Samsung Electronics Co., his only son Jay-yong and other family members hold a combined 80.7 percent stake in Cheil Industries as of Sept. 19.
Cheil Industries' business portfolio ranges from a theme park and construction to fashion.
ksnam@yna.co.kr
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