Posco launches $171m Hyundai Heavy share sale

South Korean steel giant Posco launched a block in Hyundai Heavy Industries on Monday evening, seeking up to W193.3bn ($170.5m), according to a termsheet seen by GlobalCapital Asia.

  • By Jonathan Breen
  • 19 Jun 2017

The vendor is offering 1.1m secondary shares at W171,500-W175,500 each, equal to 1.94% of Hyundai Heavy’s existing share capital. 

The price range offers a 2.5%-4.7% discount to the stock’s last close at W180,000 and could net the vendor anywhere from W188.9bn-W193.3bn.

The deal is set to price late ...

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