Woori mandates ADR, finally

Seven months later than expected, KDIC selects leads for Woori sale.

Investment bankers have been waiting for Woori for a long time. The Korean financial holding company which is 80% government-owned was originally expected to launch a $1 billion ADR back in June, but with equity markets tepid and North Korea making a lot of noise, the deal got delayed.

A level 2 ADR was filed in the autumn via Lehman Brothers and Samsung Securities and this resulted in Woori Financial Holding getting its US GAAP and financial reporting...

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