Goldman offloads Kookmin stake

Private equity arm continues to monetize stake in Korea''s largest bank.
Goldman Sachs Private Equity completed the sale of a 4.2% stake in Kookmin Bank at New York's close last night Thursday.

With Goldman Sachs as sole bookrunner, 13 million ADS units were divested at $35.78 each, a 7% discount to the stock's Won43,350 close in Korea and a 0.6% discount to the ADR's $36 close in New York. One ADR equals one share.

The most striking aspect of the $465 million deal was the increase in the base issue size, the largest on record for an ADR transaction. Since there was no US SEC filing, Goldman had flexibility to meet demand as it saw fit and having opened books with a 7.65 million...

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