Korea Line Wins 72 Billion Won Cargo Deal With POSCO FLOW

POSCO Group sold 20.28 million shares (2.7%) of Woori Financial Group for 676.5 billion won, a 4.4% discount. The sale, handled by HSBC, Bank of America, and Samsung Securities, yields a 160% profit. POSCO aims to reduce holding company discount and fund future investments. Woori's stock closed down 4.73%.

POSCO sold its 20.28M shares in Woori Financial Group for ₩676.5B ($497.8M), a 4.3% discount to the prior close. The sale, led by BofA, HSBC, and Samsung Securities, generated a 160% gain. Woori shares fell 4.87% on the news. POSCO aims to monetize assets for future growth.

POSCO sold 20.28 million shares of Woori Financial Group, raising 676.5 billion won. The sale, at a 4.4% discount, yielded a 160% profit. POSCO plans to use proceeds for investments and financial stability, according to the company. POSCO Holdings recently sold stakes in subsidiaries to secure funds.

POSCO sold 20.28M Woori Financial Group shares (2.7%) for 676.5B won, a 4.3% discount. The sale, managed by foreign brokerages, resulted in a 160% gain. Woori's shares fell 4.87% post-deal. POSCO aims to fund strategic investments according to analysts.

Korea Line (005880) signed a 72 billion won ($53.0 million) long-term shipping contract with POSCO Flow, running until January 2030. The deal, 5.63% of last year's revenue, involves transporting iron ore and coal. This follows similar contracts with Hyundai Glovis and Zhejiang Shipping, strengthening Korea Line's revenue structure and reducing its debt-to-equity ratio to 64%.

Korea Line Corporation (005880) secured a 72 billion won, 3-year freight contract with Posco Flow to transport raw materials, representing 5.63% of its 2022 sales. The deal stabilizes revenue amid market volatility, according to the company.