Cuckoo Electronics, South Korea’s No. 1 manufacturer of rice cookers, said Tuesday it will file for an initial public offering on the nation’s main bourse next month based on burgeoning demand overseas, especially in China.

The company plans to issue 2.4 million shares next week to raise about 200 billion won ($195.2 million). A total of 9.8 million shares are expected to be listed on the Korea Exchange in August to become one of the largest IPOs for the latter half of this year.

Established in 1978, Cuckoo designs and sells high pressure rice cookers, which quickly became best-sellers. It has become the top-selling brand with a 70 percent share in the local market. It is currently sold in nearly 30 countries, including the U.S., China, Vietnam and Russia.

(baejisook@heraldcorp.com)