Korea's Leading Steel Producer in First Non-Japanese Listing on Tokyo Stock Exchange
November 21, 2005
November 21, 2005
Cleary Gottlieb represented POSCO in its Reg S offering of 14 million American Depositary Shares to the Japanese public and to investors in certain other countries excluding the United States. POSCO also registered a portion of the offering to account for ADSs initially offered and sold outside the United States and thereafter resold in the United States. With this transaction, which priced on November 15 and closed on November 21, POSCO became the first non-Japanese company to list its ADRs on the Tokyo Stock Exchange, as well as the first South Korean company to trade on the TSE. Nomura Securities Co., Ltd. acted as lead manager.
POSCO is the largest steel company in South Korea.