BKL advised Cheil Industries (f. k. a. Samsung Everland) and the selling shareholders, on Cheil Industries’ initial public offering and listing on the KRX KOSPI Market of the Korea Exchange (the “IPO”). Cheil Industries holds a central position in the overall organizational structure of the Samsung Group and is engaged in the fashion, construction, food services and resort business.

The IPO shares were offered through a public offering to retail and institutional investors in Korea and elsewhere in accordance with Rule 144A/Regulations S under the US Securities Act. An aggregate of 28,749,950 shares of common stock of Cheil Industries were offered and sold by Cheil Industries and the selling shareholders to domestic and overseas investors in the course of the IPO, raising approximately KRW1,523.7 billion in gross proceeds. The IPO attracted explosive interest from investors with approximately KRW30 trillion in deposits, and was priced at the maximum limit of the price range of the book-building, KRW53,000 per share, which increased by 113.2% on the first trading date on December 18, 2014. The IPO was the largest Korean IPO to date, excluding IPOs by life insurance companies.

BKL’s IPO team consisted of partners Eui-Jong Chung, Hee-Gang Shin, Mi-Eun Roh, associate Seung-Il Hong, foreign legal advisor Heesug Chung and other professionals, and provided Korean law advice and other legal services to Cheil Industries and the selling shareholders on all aspects of the IPO, from the initial stages of listing preparation, throughout the entire process of the IPO.