Hyundai Mipo exits KCC with $121m clean-up sale

The transaction extends the recent revival in Korean deal flow after a particularly strong first quarter and provides some solace after the Hotel Lotte IPO was pulled.

Hyundai Mipo Dockyard raised W142.1 billion $121 million through a clean-up trade in chemical and auto parts manufacturer KCC Corp on Tuesday, extending Korea's strong run of secondary share sales so far this year.

Driven by a number of follow-on offerings from affiliates of Samsung Group as well as Korea Aerospace Industries, South Korea has been a hot spot for Asian equity capital markets this year, especially in the first quarter when deal volume reached a 10-year high of $3.9 billion, according to Dealogic. 

Attention in the past two months has shifted to Southeast Asia, where a number of transactions were completed after a...

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