KEB divests Doosan Heavy stake

Korean bank makes fourth divestment in plant components manufacturer.

Korea Exchange Bank KEX sold a 4.22% stake in Doosan Heavy Industries Construction after Monday's close, raising Won80.96 billion $78 million from the ABN AMRO Rothschild led deal.

A total of 4.4 million shares were sold at a fixed price of Won18,400 per share, which represented a 3.92% discount to the group's Won19,150 close earlier the same day. The transaction was built around reverse enquiry demand from one account that did not currently own the stock and took a large chunk of the final deal.

In total it was placed to less than 10 accounts, of which 80% were existing holders.

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