Seoul trims stake in Industrial Bank of Korea

The long-awaited deal raises $250 million after being upsized by 77%. Separately, a former director of CIMC Enric pockets $121 million from the sale of his remaining shares in the company.
November 27, 2013

The Korean ministry of strategy and finance has reduced its stake in Industrial Bank of Korea (IBK) through a block trade, raising W264.94 billion ($250 million).

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