Kookmin looks to raise $1.8bn in share sale

South Korea’s Kookmin Bank asked equity bankers for pitches on a $1.8bn treasury share placement that would allow it to sell down part of its stake in parent company KB Financial at the end of last week. But the lender surprised bankers by asking for letters of guarantees from investors to be sent alongside the RFPs.

  • 07 Apr 2011

About 10 banks submitted proposals on Monday, despite widespread shock that the Korean bank had demanded evidence of commitments. Bankers said it would be difficult to get such commitments, and it was unclear how many sent proposals without them.

Some bankers also expressed confusion when Kookmin said on Monday ...

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 3,599.18 10 11.11%
2 HSBC 1,925.24 7 5.94%
3 Bank of America Merrill Lynch 1,736.50 8 5.36%
4 Itau BBA 916.67 2 2.83%
5 Bradesco BBI 900.00 2 2.78%

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1 Citi 2,421.53 5 33.29%
2 HSBC 937.89 2 12.90%
3 Itau BBA 916.67 2 12.60%
4 Bradesco BBI 900.00 2 12.37%
5 Morgan Stanley 800.00 1 11.00%

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1 HSBC 295.00 1 32.24%
1 Credit Agricole CIB 295.00 1 32.24%
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Subtotal 915.00 2 100.00%

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2 ING 3,184.83 25 9.45%
3 SG Corporate & Investment Banking 2,911.64 17 8.64%
4 Citi 2,741.75 18 8.13%
5 HSBC 1,822.32 18 5.41%

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 262.46 3 12.40%
3 Standard Chartered Bank 242.57 3 11.46%
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4 DBS 191.19 2 9.03%