KDIC sell-down in Kepco upsized to $547 million

A delay in allocating the shares triggers some initial confusion, but the deal eventually comes together and Kepco’s share price closes 1.2% above the placement price.

KDIC sell-down in Kepco upsized to $547 million

Korea Electric Power Corp Kepco held up well yesterday even though the share sale by Korea Deposit Insurance Corp KDIC on Tuesday evening was upsized to $547 million from an original base deal of $235 million. The share price fell 3.7% to within 50 points of the placement price in the first 15 minutes of trading, but bounced back to trade around 2.8% lower for most of the day, suggesting a successful transaction.

However, the...

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