Hana Financial raises equity to fund KEB acquisition

The price is fixed at W42,800 per share for a total deal size of $1.28 billion, making it the largest primary placement in Korea ever.

Hana Financial, the parent company of Hana Bank, on Thursday last week priced its earlier announced share placement to raise the remaining funds needed to pay for its acquisition of Lone Star's 51% stake in Korea Exchange Bank KEB.

The price was fixed at W42,800 per shares and the company sold 32.6 million shares for a total deal size of W1.4 trillion $1.28 billion, making it the largest primary share follow-on in Asia ex-Japan so far this year....

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