Summary of Proposed Investment
Project Number
9453
Company Name
Good Morning Securities Co., Ltd.
Date SPI Disclosed
Dec 11, 1998
Country
Korea, Republic of
Industry
Financial Markets
Status
Completed
Sector
Market Infrastructure (Clearance and Settlement, etc.)
Department
Regional Industry - FIG Asia & Pac
Environmental Category
C - No Impact
Previous Events
Approved : Jan 27, 1999
Signed : Feb 3, 1999
Invested : Feb 10, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Korea-Ssangyong Securities (SISCO) |
| Region | Asia |
| Sector |
Projected Board DateJanuary 15, 1998
Company NameSsangyong Investment and Securities Company, Ltd.
Technical Partner and/or Major Shareholders
H&Q Asia Pacific,LAPIC, IFC, and others.
Project Cost Including proposed IFC investment
Approximately US$130 million, split between equity, convertible bonds, and subordinated debt.
Location of project and Description of site
Seoul, Republic of Korea
Description of Company and Purpose of Project
The proposed project seeks to support the restructuring, streamlining, and spinning off of Ssangyong Investment and Securities Company, Ltd. (SISCO or the Company)from the Ssangyong Group. IFC proposes to subscribe to a convertible bond and subordinated debt to support the efforts by H&Q Asia Pacific Korea (H&Q).IFC was invited to support the transaction as it was instrumental in helping to establish H&Q Asia Pacific''s operation in Korea earlier in 1998. The proposed financing will help support H&Q''s first transaction in the financial sector in Korea, and more importantly, signal to the market the importance of this investment as a model of corporate restructuring.
Environmental Category and Issues
Most likely a Category C project. Currently under review.
| Date SPI sent to InfoShop | December 11, 1998 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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