Goldman trims stake in Hana Financial at a 6.5% discount

The block trade enables Goldman to raise $298 million and leaves it with a 4.5% stake in the Korean financial group.

Goldman trims stake in Hana Financial at a 6.5% discount
Sunnie Kim, Hana Financial CEO

Goldman Sachs last Thursday sold slightly less than half its stake in Hana Financial Group, raising W322.5 billion $298 million. The sale, which was done as a fixed-price block trade before the opening of the Korean market, came about six months after Temasek sold its entire stake in the company and as Hana awaits approval to buy Lone Star’s majority stake in Korea Exchange Bank.

A source said Goldman’s divestment was caused by a...

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