Economy / South Korea
Two Much-Needed South Korean IPOs
July 2008 | Top StoriesThe weak IPO market in South Korea may receive a much needed boost this month, as two companies receive approval for planned IPOs. POSCO Engineering & Construction (POSCO E&C), the construction arm of South Korean steel giant The Pohang Iron and Steel Company (POSCO) has received approval for an initial public offering in Seoul, in a bid to raise up to US$1.48bn in capital. POSCO is the world's fourth largest steel-maker and a bedrock of Korean industrial development.
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