Low-cost carrier Jeju Air will seek to go public as early as March next year. Jeju Air is the first among domestic budget carriers to seek an initial public offering.
The airline chose Woori Investment and Securities as the lead negotiator. It will issue new shares worth 20 percent of its shares in the over-the-counter market, while selling part of stakes owned by majority shareholders.
The carrier seeks to raise at least W200 billion (US$1=W1,112) from the IPO.
Launched in 2005, Jeju Air has achieved an annual net profit of around W10 billion since 2011. Cumulative passenger traffic surpassed 20 million in July this year.
