KDB to monetize stake in INI Steel

Joint leads ING and JPMorgan will begin canvassing investor opinion on Monday for a follow-on offering in the world's second largest electric arc furnace operator, INI Steel. Most of the 16.9 million shares on offer mark a divestment by the Korea Development Bank (KDB), which has held an 8.2% stake in the Hyundai group company since a debt for equity swap just over three years ago.