Amore applies institutional foundation

An undisclosed institutional investor completely divested its stake in Korea's leading cosmetics company yesterday (November 17), raising $163 million from the sale of a 6.3% stake in AmorePacific Corp. Under the lead of Credit Suisse First Boston, a 561,969 share deal was marketed on a price range of Won294,500 to Won303,800 before being priced at Won300,000, which represented a 3.23% discount to the stock's Won310,00 close.