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Korean Firms May Seek Tokyo IPO, Nikkan Kogyo Says (Update1)

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Jan. 7 (Bloomberg) -- Two Korean Companies may be listed on the Tokyo Stock Exchange in 2011, Nikkan Kogyo newspaper reported today on its website without citing anyone. President Atsushi Saito did presentations in Korea, and some companies in Korea indicated their intention to be listed after ongoing negotiations, the report said.

“We heard some companies in Asia including Korea have been preparing for listing,” Satoshi Mimura, a spokesman for the Tokyo exchange, said by phone. “But nothing concrete about listing has been decided so far.”

Exchange president Saito had visited South Korea, and the bourse had held seminars in other Asian countries to attract foreign companies, Mimura said. The exchange will continue to actively seek listings from firms outside Japan, Mimura said.

To contact the reporters for this story: Takako Iwatani in Tokyo at tiwatani@bloomberg.net;

To contact the editor responsible for this story: Nick Gentle in Hong Kong ngentle2@bloomberg.net.

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