KDIC sells $1.03 billion of Woori stock at 0% discount

Strong and lumpy demand from international investors results in the government sell-down becoming the second Korean placement in a month to price flat to the market.

The Korean government has sold another 9% of Woori Finance Holdings, through a share placement that attracted a lot of attention among international investors. The sale was increased from a 7% stake initially and priced at a 0% discount for a total deal size of W1.16 trillion $1.03 billion. 

This was the second Korean placement in a month to price flat to the market, which is testament to the strong desire among international investors to increase their exposure to the region and to do so via large liquidity events in key companies -- the Woori sell-down equalled about 20 trading days of volume -- rather than through trades in the market that risk...

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