Posco sells $743 million of treasury shares

The shares are sold to a small group of investors through a club deal at a 4.76% discount.

Posco sells $743 million of treasury shares

Korean steel manufacturer Posco on Wednesday raised W807.3 billion $743 million by selling a quarter of the treasury shares it holds on its own balance sheet. The shares were sold to a small group of international investors through a club deal that was flagged to the broader market only after it was completed.

The deal was done without a term sheet but, according to an announcement sent to investors in the early evening Hong Kong...

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