Korea government eyes $142m from IBK selldown
The Republic of Korea’s Ministry of Strategy and Finance is tapping the equities market by putting W150bn worth of stake in Industrial Bank of Korea (IBK) up for sale on November 26, the third time in six days a government body has raised money in the equities market.
The 13.2m secondary shares are offered at a fixed price of W11,400, which constitutes a 5% discount to the stock’s November 26 close of W12,000.
As of December 31, there were 546m shares outstanding in IBK, according to the bank’s 2012 annual report. And based on those
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