Creditors sell part of Hynix stake at 0% discount

Eight sellers, led by Korea Exchange Bank, raise $817 million from the sale of a 6.7% stake in Hynix Semiconductor after failing to exit the Korean memory-chip maker through a M&A transaction.

A group of creditors to Hynix Semiconductor last night cashed in part of their remaining stake in the Korean memory-chip maker, raising a combined W923.15 billion $817 million. The well-flagged transaction met with strong demand, especially from domestic investors, and amazingly priced flat to the market despite the fact that the share price has gained in eight of the past 10 sessions.

Clearly investors welcomed the opportunity to buy the stock in size without the risk of moving the...

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