KEB closes Hana block sale at the second attempt

After Wednesday’s attempt at a block sale failed, Korea Exchange Bank managed to offload 4.35 million shares in Hana Financial Group, raising $167 million.

KEB closes Hana block sale at the second attempt

Korea Exchange Bank sold 4.35 million shares in Hana Financial Group at the second attempt on Friday, raising more than $160 million in the process after a first effort was botched on Wednesday.

FinanceAsia understands that shares were initially offered at between 40,937 won and 41,350 won $38.23 and $38.62 when the books opened Wednesday. A 2% discount would have drawn sufficient demand, bankers said, but KEB insisted on a...

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