POSCO Int'l to raise $395.8 mil. for US shale gas assets
POSCO International said Monday its U.S. subsidiary will raise 532.9 billion won ($395.8 million) through a rights offering to acquire shale gas assets in the United States. The company said the funds will be raised by its wholly owned subsidiary, POSCO International E&P USA, but did not disclose the name of the shale gas assets or its partner in the deal. In addition to the rights offering,…
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.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- POSCO Int'l to raise $395.8 mil. for US shale gas assets koreatimes.co.kr
- POSCO International to raise 532.9 bln won for U.S. shale gas assets en.yna.co.kr
