IBK, KStone cut Daewoo E&C stake further

Shareholders of the Korean building company waived their lockup restrictions to execute a $158 million share placement, making the most of a recent bull run.
Daewoo E&C's chemical project at Mesaieed, Qatar
Daewoo E&C's chemical project at Mesaieed, Qatar

Industrial Bank of Korea and US asset manager KStone Partners sold W177.6 billion ($158 million) worth of shares in Daewoo Engineering & Construction (Daewoo E&C) through an overnight block sale on Tuesday, the second time they've sold part of their stake in the South Korean builder in less than two months.

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