Block trade in Hanwha Life prices at 9.7% discount

Hanwha Chemical reduces its stake in the insurance company, raising $112 million. The deal attracts domestic long-only investors and international funds.

Block trade in Hanwha Life prices at 9.7% discount
Hanwha Life's headquarters in Seoul

Hanwha Chemical has reduced its stake in Hanwha Life Insurance through a block trade that priced at a discount of 9.7% to the latest close and raised W122.4 billion $112 million, a source said yesterday.

The deal was launched at around 3.40pm Hong Kong time on Monday and completed early yesterday. It saw Hanwha Chemical sell a 1.9% stake in the insurance company, which was previously known as Korea Life Insurance, reducing its holdings...

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