Korea mandates Daewoo privatization

One of the first Daewoo group companies to complete its financial workout hopes to become the first since the financial crisis to issue international equity.

Jackie Horne

June 13, 2002

The Korean government is planning to sell up to 15% to 20% of its stake in Daewoo Shipbuilding and Marine Engineering (DSME) during the fourth quarter. JPMorgan is believed to have been awarded sole books for a GDR which will raise between $200 million to $300 million based on today's (Thursday) market price of Won9170 per share.

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