South Korea to sell 15% of Seoul Incheon through IPO

The South Korean Government plans to sell a stake in the state-run Seoul Incheon International Airport through an initial public offering (IPO) late next year.

Up to a 15% stake will be sold through the IPO, says a spokeswoman at Seoul Incheon.

The Government plans to eventually sell up to 49% as part of plans to privatise the airport and other state-run companies.

"We are thinking of offering more through the IPO in 2011," says the spokeswoman.

There is a possibility that a stake will be sold to a foreign airport management company, but a foreign firm cannot own more than 10%, she adds.

The remaining 51% stake will remain with the Government, she says.

Source: Air Transport Intelligence news