Temasek Holdings is trying to sell its entire 9.6% stake in Korea’s Hana Financial Group through a placement that could raise as much as W723.7 billion $640 million if priced at the top of the range. That top pricing seems unlikely, however, after the deal was kept open through the night, suggesting that there wasn’t enough demand to complete the transaction in the Asian evening.
A source said the deal was expected to price before the Korean market opens this morning, which would mean the order book would have been kept open for well over 12 hours. The initial talk was that the offering would close mid-morning US time, or before midnight Hong Kong time....
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