May 11, 1999
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| May 11, 1999 | atimes.com | |
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| The Koreas Firms going public to flood S. Korea's bourse in May SEOUL - Firms going public are likely to flood the Korea Stock Exchange around the end of this month, with the economy shaking off the crisis set off by the foreign exchange crunch in late 1997. The Financial Supervisory Service (FSS) said Thursday seven firms, including LG Ad and Seoul Mobile Telecom are ready to take steps to list their shares next week. Four others including Philco Electronic and Samlip Precision Industry will follow in seeking FSS approval next week. The firms can launch public subscriptions of their shares around the end of June after taking necessary procedures, including FSS screening and registration with the stock exchange. Several more firms, including Kukje Electronics and Daewoong Chemical, are also set to present papers to the FSS for deliberation this month and in June to go public some time this year. They have already completed consultations with lead managers and brokerage houses. Thirty more firms are also reported to be preparing to offer their shares at the Seoul bourse within this year. FSS sources said they project about 30 to 40 firms to list shares on the bourse this year, many of them in the second half, rekindling the corporate rush to go public that was suspended with the economic crisis in late 1997. Public offering of shares totaled 1.39 trillion won over 40 cases in 1996 but plunged to 479 billion won in 23 cases a year later. Last year, the figure was 36 billion won over three cases, the lowest in the decade in value and volume. (Asia Pulse/Yonhap) | |||||||||
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