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China fishing firm go public on the SKorean bourse

(Xinhua)
Updated: 2009-05-20 17:12

SEOUL - A Chinese fishing company will list its shares on the Seoul bourse this week, the South Korean stock market operator said Wednesday.

According to the Korea Exchange (KRX), China Ocean Resources Co. will start trading 57.2 million shares from Friday at 90-200 percent of the offer price 3,100 won (US$2.5).

The company, based in Hong Kong, will be the seventh foreign firm to be listed on the South Korean bourse.

China Ocean Resources marked a net profit of 186.4 million Hong Kong dollars, or US$24.05 million, in 2008, according to the KRX.