Hyundai Samho ships out of Posco

Shipbuilder executes clean-up trade in steel producer as investors watch for any signs of a turnround in sentiment towards the sector.

Hyundai Samho ships out of Posco

Hyundai Samho Heavy Industries, a Korean shipbuilder, raised Won 226.15 billion $190.8 million after offloading its entire stake in steelmaker Posco following Tuesday's close. 

The deal comes at a time when Posco is trading at a historically low valuation and investors stand primed for any signs of a turnround in sentiment towards the beleaguered steel sector.

The proceeds also represent a much needed cash infusion for Hyundai Samho, which has been...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES