POSCO Specialty plans $500-$700 million IPO, picks bookrunners
SEOUL (Reuters) - South Korea's POSCO Specialty Steel, owned by steelmaker POSCO (005490.KS), plans to raise between $500 million and $700 million in an initial public offering and has hired four banks as bookrunners, IFR reported on Tuesday.
Goldman Sachs (GS.N), KB Investment & Securities, Korea Investment & Securities and Tong Yang Securities (003470.KS) will manage the deal and POSCO Specialty Steel has yet to name a global co-ordinator.
The company is expected to list its shares in the fourth quarter, said IFR, a Thomson Reuters publication.
(Reporting by Daniel Stanton; Writing by Miyoung Kim; Editing by Himani Sarkar)