Temasek tries to sell entire stake in Hana Financial

Temasek is hoping to raise up to $640 million from the sale of a 9.6% stake in the Korean financial holding company through a block trade that was expected to price before the opening of the Korean market today.

Temasek Holdings is trying to sell its entire 9.6% stake in Korea’s Hana Financial Group through a placement that could raise as much as W723.7 billion $640 million if priced at the top of the range. That top pricing seems unlikely, however, after the deal was kept open through the night, suggesting that there wasn’t enough demand to complete the transaction in the Asian evening.

A source said the deal was expected to price before the Korean market opens this...

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