Posco Specialty Steel withdraws IPO due to poor demand

The Korean company decides not to proceed with its offering of up to $426 million, which could have been the biggest in Korea this year.
<div style="text-align: left;">
Chicago's Cloud Gate, by Anish Kapoor, with help from Posco
</div>
<div style="text-align: left;"> Chicago's Cloud Gate, by Anish Kapoor, with help from Posco </div>

Posco Specialty Steel, which is owned by Korean steelmaker Posco, has decided to withdraw its initial public offering, which was intended to raise between W392 billion and W462 billion ($361 million to $426 million), a source said Friday.

¬ Haymarket Media Limited. All rights reserved.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.

Share our publication on social media
Share our publication on social media