Public Offering of Kangwon Land Starts July 6

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Public Offering of Kangwon Land Starts July 6

The Ministry of Commerce, Industry, and Energy announced Monday that it decided to make a public share offering of Kangwon Land Co., the company in charge of constructing casino resorts on areas of abandoned mines in Kangwon Province.
The total number of Kangwon Land's shares to be publicly offered amounts to 9.8 million and the overall share equity totals 181.3 billion won at a price of 18.500 won per share.
Companies will be allowed to apply for 600,000 shares, 3 percent of the total shares to be issued, and private investors will be limited to a maximum of 25,000 shares.
The ministry allocated 20 percent and 80 percent of the shares to corporations and individual investors, respectively, and will receive applications at the nationwide branch offices of Samsung Securities Co. and Kangwon Bank for three days from July 6 to 8.
Samsung Securities, which has taken charge of selling the stock, plans to hold an overseas investment seminar in Hong Kong and Japan from June 15 to 17 and will also hold seminars in large cities across the nation including Seoul, Taegu, and Pusan from June 21.

Jangsoo Seo:jsbee@joongang.co.kr
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