Asia’s biggest international equity deal of the year will come from its most closed and parochial market. State-owned telecommunications company Korea Telecom, which has annual revenue of w5.71 trillion ($7.2 billion) and assets of W11.6 trillion, wants to raise up to $2 billion. With the Korean stock market suffering from political instability and restrictive practices, the government may have no choice but to make its first-ever foray into international capital markets when undertaking a privatization.
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