SeAH Special Steel Co files IPO (US)

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SeAH SPECIAL STEEL is listed on KOSPI Market on June 1, 2011

May 31, 2011 -SeAH Special Steel Co., a Korean steelmaker, will start trading its shares on the Seoul main stock market this week, the local bourse operator said yesterday. The Korea Exchange (KRX) said in an e-mailed statement that shares of SeAH Special Steel will be listed on the main bourse on June 1. The initial share price will be set in the 90-200 percent range of the firm’s initial public offering price of 28,000 won ($25.90).  Established in 1986, the company is the country’s leading manufacturer of steel auto parts such as CHQ wires, CD bars and STS bars.  In 2010, SeAH Special Steel logged a net profit of 30.8 billion won on a revenue of 527.2 billion won. The company said in a media conference earlier this month that it aims to post a revenue of 1 trillion won in 2014 by boosting global sales.  The steelmaker is an affiliate of SeAH Holdings Corp., which holds a 69.9 percent stake.

Source : Korea JangAng Daily

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