State-run companies to be listed on bourse
The head of Korea’s stock market operator said yesterday he expects three to four state-run companies to list their shares on the Seoul bourse this year.“We are preparing to allow state-owned companies’ listings amid the local stock market’s bull run,” Lee Young-tak, chief executive officer of the Korea Exchange, told KBS Radio.
“As many as four public companies, including subsidiaries of power monopoly Korea Electric Power Corp., are likely to be listed,” he said.
The Kospi rose more than 20 percent in the first half of this year compared with the end of last year.
Lee’s remark comes after the Finance Ministry said in late June it is reviewing a plan to allow eligible public companies to list part of their shares on the Seoul bourse in a bid to lure more domestic and foreign investors into the market.
Lee said he expects Korea Exchange shares to be listed in late August, as it plans to apply for the listing in July. The exchange has been pushing for a listing on the Seoul bourse as part of its efforts to develop into a global market operator.
It was created in January 2005 by combining the Korea Stock Exchange, the Kosdaq Stock Market and the Korea Futures Exchange. Yonhap
with the Korea JoongAng Daily
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