중앙데일리

Heating Firm to be Privatized

May 18,2001
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.



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