Hana, Shinsegae blocks keep focus on Korea

KEB raises $321 million from a sell-down in Hana, while IBK exits Shinsegae via an $82 million transaction.

Hana, Shinsegae blocks keep focus on Korea

Two more block trades were completed in the Korean market on Tuesday after BNP Paribas’ sell-down in Shinhan Financial on Monday.

Korea Exchange Bank KEB sold about two-thirds of its stake in Hana Financial Group, raising W340.41 billion $321 million, and Industrial Bank of Korea IBK offloaded its entire position in Shinsegae, an operator of department stores and discount stores, for W86.6 billion $82 million.

Both stocks have had a...

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