IBK raises $298.4 million from GDR sale

Syndicates opened books a few days earlier for the Korean bank, with hedge funds and long-only institutions keen to get in on the GDRs.

Industrial Bank of Korea (IBK) raised $298.4 million after pricing some 26.2 million global depository receipts at 11,390 won ($10.94), a 4.45% discount to the closing price on April 11.

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