Temasek tries to sell entire stake in Hana Financial

Temasek is hoping to raise up to $640 million from the sale of a 9.6% stake in the Korean financial holding company through a block trade that was expected to price before the opening of the Korean market today.

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....

¬ Haymarket Media Limited. All rights reserved.

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