South Korea's SK C&C, SK Group's technology service arm, plans to raise up to 480 billion won ($412.6 million) from its planned initial public offering, according to a term sheet obtained by Reuters on Friday.

SK C&C was among a number of Asian companies that delayed their IPOs because of last year's severe downturn in global equities, with its IPO valued at up to 1.2 trillion won at the time.

SK C&C has set the indicative range at 28,000 won-32,000 won per share of the pricing, expected around Oct. 30. It is offering 15 million shares held by mobile carrier SK Telecom and trading firm SK Networks.

The two sister firms plan to cash in on their holdings, while helping the parent group to complete its transformation into a holding company format from the cross-holding structure.

SK C&C is the biggest shareholder in SK Holdings, an energy to construction holding company, with a 32 percent stake as of end-June.

Woori Investment & Securities, Korea Investment & Securities and Daishin Securities are lead managers for the IPO.

($1=1163.2 Won)

(Reporting by Rhee So-eui; Editing by Rupert Winchester)