Mixed reception for Korean blocks

An undisclosed shareholder raises $352 million from the sale of its entire stake in Kumho Petrochemical a day after Kepco is forced to cut the size of its sell-down in Kepco E&C to just $87 million.

An undisclosed seller last night raised W409.64 billion $352 million from a placement of shares in Kumho Petrochemical, a Korean producer of synthetic rubbers, resins and specialty chemicals, taking advantage of the modest rebound in Asian stock markets during the past couple of sessions.

The clean-up trade was well received with good demand from both international and domestic investors, but in an acknowledgement of the challenging market environment and in order not to cut off...

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