POSCO International to raise 532.9 bln won for U.S. shale gas assets

POSCO International has announced plans to raise $395.8 million through a rights offering to acquire shale gas assets in the United States. The funds will be raised by POSCO International E&P USA, a wholly owned subsidiary of the POSCO Group. Additionally, the company will extend a loan of $266.1 million to its U.S. subsidiary by March 15 next year.

The conglomerate, known for its steelmaking and energy businesses, is acquiring these assets through a partnership with an unspecified entity. The article was reported by The Korea Times and assisted by generative AI.

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