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IPO hungry KRX eyes Indonesian companies

[THE INVESTOR] Korea Exchange is targeting companies in Indonesia for listing on the Seoul bourse in its efforts to attract foreign blue chip stocks for investors hungry for returns.

The bourse operator plans to hold a conference to promote initial public offerings on the main KOSPI market in Indonesia in October.

“We seek to list Indonesian companies established by Koreans and subsidiaries of Korean conglomerates as well as firms that want secondary listing in Seoul,” a KRX official said. 




Since the beginning of the year, the bourse operator has made a strong push to list more foreign companies in the Korean stock market. KRX held similar roadshows in the US, Hong Kong and Vietnam earlier this year.

In January, KRX also set up a working group of financial and legal experts to attract Vietnamese enterprises.

“We expect potential demand in Indonesia although the demand won’t be as high as in Vietnam,” the official said.

As a result of the IPO push, LS VINA and LSCV, two separate Vietnamese units of South Korea’s top cable maker LS Cable & System, are expected to go public on the Seoul bourse on Sept. 22.

By Park Han-na (hnpark@heraldcorp.com)
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