Kepco and Posco face up to international equity investors

The Korean government has re-activated its stop-start privatisation programme with the sale of stock in its steel and electricity companies.

Jackie Horne

September 29, 2000

Books for a 6.84% sell-down in Posco (Pohang Iron & Steel) have just closed in New York (Thursday EST). With Merrill Lynch and Salomon Smith Barney as lead managers, the Korea Development Bank (KDB) has forged ahead with a third attempt to offload its stake and complete the government's privatisation of the steel company.

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