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Air Busan Co., one of South Korea's low-cost carriers, won approval on Thursday for its planned initial public offering on the country's main exchange, the bourse operator said.
After conducting a preliminary screening, the Korea Exchange said it found Air Busan suitable for going public on the KOSPI market.
The approval cleared the way for the budget unit of Asiana Airlines Inc., the country's second-biggest full-service carrier, to debut on the market either in December or early next year.
Details of its share price band are not presently available.
Last year, Air Busan reported a net profit of 28.5 billion won ($25.3 million) on sales of 561.7 billion won.
Mirae Asset Daewoo Co. and NH Investment & Securities Co. are lead managers for the planned listing, according to Air Busan. (Yonhap)
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