KEB move to raise $168m from Hana block dropped

Korea Exchange Bank aimed to sell 4.35 million shares in Hana Financial Group in a block trade.

KEB move to raise $168m from Hana block dropped

Korea Exchange Bank’s KEB effort to sell 4.35 million shares in Hana Financial Group and raise $168 million in a block trade fell through on Wednesday night, according to a banker close to the deal.

Shares were initially offered between 40,937 won to 41,350 won $38.23 to $38.62 when books opened, a tight zero to 1% discount to the last close of 41,340 won on March 5, according to a term sheet.

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