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POSCO International’s headquarters in Songdo, Incheon. (Photo: POSCO International) |
[Alpha Biz= Paul Lee] SEOUL, November 18 — POSCO International announced that it will acquire 861,921,640 additional shares of its Singapore subsidiary AGPA Pte. Ltd. for approximately KRW 1.2569 trillion, according to a regulatory filing.
The acquisition is part of AGPA’s paid-in capital increase and will raise POSCO International’s ownership stake to 100%. The share purchase is scheduled for completion on November 19. The company stated that the purpose of the acquisition is the “purchase of shares in an overseas corporation.”
POSCO International, established in 2000 through the spin-off of Daewoo’s trading division, operates 44 subsidiaries and over 100 global networks. Its businesses span steel and raw materials trading, EV and hybrid auto parts, secondary battery materials, gas field exploration, and LNG operations.
According to the Korea Exchange, POSCO International’s stock closed at KRW 52,000, down 2.62% from the previous trading day.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
