Reuters reported that South Korea's POSCO Specialty Steel, owned by steelmaker POSCO, plans to raise between USD 500 million and USD 700 million in an initial public offering and has hired four banks as book runners.

Goldman Sachs, KB Investment & Securities, Korea Investment & Securities and Tong Yang Securities will manage the deal and POSCO Specialty Steel has yet to name a global coordinator.

The company is expected to list its shares in the fourth quarter.

Source - Reuters

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