Hyundai Samho offloads stake in KCC

Korean shipbuilder raises $375m in accelerated block, while Philippine firm Ayala held one of the country's largest placements this year.

Hyundai Samho offloads stake in KCC

Korean shipbuilder Hyundai Samho Heavy Industries raised $375 million in an accelerated block in building materials manufacturer KCC Corp on Wednesday night. 

Hyundai, the world's fourth largest shipmaker, offered some 803 million shares between W507,000 to W523,000 per  unit under the leads of Citi and Daewoo Securities, representing a 3.9% to 6.8% discount to the November 19 close of W544,000 per unit, according to a term sheet.


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