The first convertible bond issued by aSouth Korean firm overseas -- by Samsung Electronics Co Ltd
&lt;SAMS.SE> -- became eligible for conversion but there was no
demand for shares as the government still bans direct share
ownership by foreigners, a Samsung official said.
    "There was no demand from holders, so the lead managers made
no approach to us to issue shares," the official said.
    The five pct bond, co-lead managed by S.G. Warburg and
Goldman Sachs Co, raised 20 mln dlrs when issued in 1985. The
only other Korean convertible bonds were issued by Daewoo Heavy
Industries Ltd &lt;DAEW.SE> and &lt;Yukong Ltd>, both in 1986.
 REUTER
