Government entity sells $102 million worth of Hynix shares

KDIC offloads its entire stake in the memory-chip maker at a zero discount, just ahead of South Korea's World Cup encounter with Argentina.

Korea Deposit Insurance Corporation KDIC has sold a stake in Hynix Semiconductor ahead of an expected sale by the Korean memory-chip maker's creditors in the second half of this year.

KDIC's holdings are entirely separate from the creditors' stake and also much smaller. The government investment vehicle last night sold its entire position, which amounted to no more than 0.75% of the company. By comparison, the creditors still hold 21.4%.

The 4.41 million shares were offered at a fixed...

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