Hana Bank: equity sale will not hinder search for strategic investor

The future ownership structure of Hana Bank became clearer on Friday after the government-owned Korea Deposit Insurance Corporation (KDIC) divested its entire 22.23% stake in the bank through an institutional bookbuilt deal led by UBS. The 42.756 million share deal raised $930.2 million and removed a major overhang from Hana, which has the most fragmented shareholding structure of the entire Korean banking sector.