Deals of the year – Top quality issuers succeed in demanding markets
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| Kola Luu: Kepco’s success crucial for Korea |
The Asian crisis left Korea’s government with an urgent need to promote corporate restructuring. One of its tactics has been to sell equity stakes in major state-owned companies. Privatization started in 1997 when a $100 million equity offering for SK Telecom was launched and continued the following year with Pohang Iron & Steel (Posco) tapping the equity market three times for a total $495 million.
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