KDIC sells 5% of Woori Finance

The long-awaited transaction is expected to be priced at the top of the range for a total deal size of $990 million.

Korea Deposit Insurance Corporation, or KDIC, last night finally offloaded another 5% of its shareholding in Woori Finance Holdings, taking advantage of a strong day in the market for Korean financial stocks.

Woori, which has hovered in a range between W21,700 and W24,000 per share over the past 3.5 months, jumped 4.8% to W23,000, while Shinhan Group added 4.4% and Kookmin Bank was up 3.9%. The sector gained partly on news that the financial regulator is planning to issue...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition

EVENTS