{
    "success": true,
    "data": {
        "id": 1381471,
        "msgid": "korea-sells-steel-stake-1447893297",
        "date": "1998-12-11 00:00:00",
        "title": "Korea sells steel stake",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "Korea sells steel stake SEOUL (AFP): South Korea's government has sold a US$300 million stake in steel giant Pohang Steel and Iron Corp. (POSCO) in the first overseas offering of a state-owned firm here, officials said Thursday. Seoul on Wednesday sold a 5.11 percent stake in the giant company, which is earmarked for privatization under reform plans, for a total of $300.4 million, the Planning and Budget Commission said.",
        "content": "<p>Korea sells steel stake<\/p>\n<p>SEOUL (AFP): South Korea&apos;s government has sold a US$300<br>\nmillion stake in steel giant Pohang Steel and Iron Corp. (POSCO)<br>\nin the first overseas offering of a state-owned firm here,<br>\nofficials said Thursday.<\/p>\n<p>Seoul on Wednesday sold a 5.11 percent stake in the giant<br>\ncompany, which is earmarked for privatization under reform plans,<br>\nfor a total of $300.4 million, the Planning and Budget Commission<br>\nsaid.<\/p>\n<p>The commission branded the sale of the 4,925 shares held by<br>\nthe government and the state-owned Korea Development Bank (KDB),<br>\nwhich were sold in the form of four American Deposit Receipts<br>\n(ADRs) to a POSCO share, a success.<\/p>\n<p>The average price of the offer was $15.25 per ADR, with the<br>\ngovernment selling its entire 3.14 percent stake in the offering,<br>\nwhile the KDB shed 1.97 percent of its total 21.6 percent stake<br>\nin the firm.<\/p>\n<p>KDB will offer its remaining stake for sale in tranches during<br>\nthe course of next year, the commission said.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/korea-sells-steel-stake-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}