Hana block

Goldman sells rest of its shares in Hana Financial

The US investment bank raises $329 million from the sale of its final 3.9% stake in Hana following reverse inquiries.

Goldman Sachs has sold its remaining stake in Korea’s Hana Financial Group through a W370.03 billion $329 million self-led block trade that was completed last night. The deal was triggered by reverse inquiries after the share price had risen 18.3% during the past four weeks and was several times covered, according to a source.

The level of demand allowed Goldman to fix the price just above the mid-point of the price range for a 3% discount.

The uncertainties surrounding Hana has cleared in recent weeks after the Korean financial holding company finally got regulatory approval to buy Lone Star’s majority stake in Korea Exchange Bank KEB....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222