Temasek lowers offering price for Hana shares

Temasek exits Hana Financial at a 6% discount to the latest close after initially trying to sell the shares at a zero to 3.5% discount, prompting a 7.3% drop in the share price.

Temasek Holdings managed to sell its entire 9.6% stake in Korea’s Hana Financial Group yesterday, but not before it lowered the price below the original offering range. The final price, W33,400 per share, represented a 6% discount to Wednesday’s closing price and allowed Temasek to raise W680.86 billion $603 million.

When the deal was launched after the close of Korean trading on Wednesday, the Singapore investment firm offered the shares at a much tighter discount between zero and 3.5%...

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