Korean government divests new IBK stake

Government takes advantage of share price spike to offload more of its stake in the policy bank.

Korean government divests new IBK stake

The Korean government executed a $353 million placement in the Industrial Bank of Korea IBK slightly later than expected on Friday afternoon.

A 28 million share equity deal was initially launched after Thursday's close at a fixed price of W13,000 - a 4.8% discount to the stock's W13,650 close.

Strong demand led the issuer to lift the offering size to $353 million it was initially marketed at $242 million and boost...

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