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.

  • By Rev Hui
  • 26 Nov 2013

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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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 23,438.27 103 9.46%
2 JPMorgan 22,204.62 91 8.96%
3 HSBC 21,532.30 124 8.69%
4 Deutsche Bank 14,929.24 54 6.02%
5 Standard Chartered Bank 12,864.13 73 5.19%

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1 Citi 7,891.26 23 14.39%
2 JPMorgan 6,469.14 26 11.80%
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4 HSBC 4,803.80 12 8.76%
5 Bank of America Merrill Lynch 4,270.90 19 7.79%

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1 JPMorgan 12,475.95 47 12.71%
2 Citi 12,387.42 44 12.62%
3 HSBC 8,280.73 41 8.44%
4 Deutsche Bank 6,905.70 15 7.04%
5 Standard Chartered Bank 5,686.63 26 5.79%

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2 Goldman Sachs 162.26 37 8.77%
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1 Bank of America Merrill Lynch 929.36 4 8.03%
2 ING 872.17 7 7.53%
3 SG Corporate & Investment Banking 839.92 7 7.25%
4 Credit Suisse 832.77 5 7.19%
5 UniCredit 793.78 7 6.85%

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1 AXIS Bank 3,917.94 61 15.95%
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5 HDFC Bank 1,552.43 41 6.32%