Kia sells Hyundai Hysco stake

Car manufacturer divests stake at all time high.

Kia Motor sold a 10% stake in Hyundai Hysco yesterday August 3 raising $121 million via Credit Suisse First Boston. The car manufacturer sold 8.14 million shares at Won15,100, which represented a 5% discount to the stock's Won15,900 close.

As a result of the sale its stake will drop to 15%.

The discount was fairly steep for such a small deal, but understandable in the context of the stock's massive run-up. Year-to-date, it has risen 109.76% and 288.22% on a one-year basis.

This share price appreciation has been attributed to the halo effect of sister companies Hyundai Motor and Kia Motor. Hyundai Hysco...

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