Heating Firm to be Privatized

Home > Business > Finance

print dictionary print

Heating Firm to be Privatized

The Korea District Heating Corp. will be privatized through an initial public offering in August, the Korea Stock Exchange said Thursday. The state-owned company plans to offer 8.68 million shares, or 36 percent of the company.

The provider of district heating, or systems that distribute steam heat to buildings, is 46 percent government-owned. Korea Electric Power Corp. holds 26 percent, Korea Energy Management Corp. 14 percent and Seoul city 13 percent. Beside the 36 percent to be sold publicly, another 36 percent will be sold through auctions to institutional investors. The heating company has 43.4 billion won ($33 million) in capital, 1.6 trillion won in assets and 757 employees.
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)