South Korea's stock market operator said that it would allow POSCO Engineering & Construction and Daewoo Capital to go public as they meet the requirements for listing.
The Korea Exchange in a statement said that the two companies will be listed on the main bourse through the initial public offerings.
POSCO Engineering & Construction, the construction unit of South Korea's top steel maker POSCO, applied for an IPO on May 22, seeking to raise up to KRW 1.17 trillion (USD 1.1 billion).
POSCO Engineering & Construction posted 205.8 billion won in net profit in 2007, up from KRW 194 billion the previous year.
