INI Steel sells 14.6% stakes
Korea's second largest steel producer INI Steel announced that it is going to sell a combined 14.6% of its total stakes which is equivalent to 16.92 million units, in the form of global depositary receipts (GDR) to foreign investors on October 15.
The GDR will represent 14.53 million units in common stock which is held by five creditors, including
Korea Development Bank and 2.39 million units in treasury stocks.
The units will be traded on the
Luxembourg bourse on October 15 and the Bank of New York will be the supervising.