When the ships come in

Daewoo Shipbuilding prices $240.7 million deal.

In a deal that was two times subscribed, Daewoo Shipbuilding priced its recent issue tightly at a 4.04% discount and raised $240.7 million with greenshoe.

The deal, which received 120 orders, was split geographically between Asia 56%, the US 30% and Europe 14%.

The deal was well received in large part because the company has been included in the MSCI index for the first time and ranks as one of the few strong outperformers on the Kospi so far this year. Indeed, the stock is up 40% this year versus a rise of 1.5% for the Kospi.

Much of this is to do with industry trends....

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