All go for Posco

A share buyback by Posco has given the KDB placement a huge fillip as investors applaud Posco''s use of excess cash.
June 12, 2000

The board of Pohang Iron and Steel Company (Posco) has approved a share buyback equivalent to 3% of the company's issued share capital. The shares will be bought from the Korea Development Bank (KDB) at the same time as KDB sells its remaining 6.8% stake to foreign shareholders in a secondary placement of ADRs.

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