Kia sells Hyundai Hysco stake

Car manufacturer divests stake at all time high.

Kia Motor sold a 10% stake in Hyundai Hysco yesterday August 3 raising $121 million via Credit Suisse First Boston. The car manufacturer sold 8.14 million shares at Won15,100, which represented a 5% discount to the stock's Won15,900 close.

As a result of the sale its stake will drop to 15%.

The discount was fairly steep for such a small deal, but understandable in the context of the stock's massive run-up. Year-to-date,...

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