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OCI to List on Singapore Stock Exchange

1:45 AM MDT | June 1, 2011 | Deepti Ramesh

OCI (Seoul), formerly DC Chemical, says it plans to be listed on the Singapore stock exchange this month. The plan follows OCI’s sale of $700 million-equivalent global depositary receipts (GDR) to overseas investors based in Hong Kong, U.K, and the U.S., Korean press reports say. Ten GDRs represent one ordinary share. The cash secured by the GDR issuance will be used to increase OCI’s production capacity in Korea, reports add. OCI is one of the largest polysilicon manufacturers in the world. OCI announced last month it will invest won1.8 trillion...

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