POSCO shares fall after block stock offering
SEOUL (Reuters) - Shares in South Korean steelmaker POSCO (005490.KS) fell more than 2 percent on Thursday after it sold some of its stock at a 4.8 percent discount to the previous day's close in a block offering.
POSCO shares were down 2.4 percent at 332,000 Korean won ($310) at 0010 GMT, snapping five sessions of gains.
The company sold 2.49 million of its existing shares at 323,800 won each, valuing the total deal at 807.3 billion won, according to IFR, a Thomson Reuters publication, on Wednesday.
($1 = 1086.5250 Korean won)
(Reporting by Hyunjoo Jin; Editing by Paul Tait)