Philips sells out of LG Display in well-timed block trade
Royal Philips Electronics sold its remaining stake in Korea’s LG Display on Wednesday evening, taking advantage of a brief wave of optimism in the global equity markets to complete a rapid block sale.
Philips sold its remaining 13.2% stake at W25,500 a share, a discount of 7.9% to LG’s closing price of W27,700.
The deal stood out as a rare rapid bookbuild amidst a sea of rights issues across Asia, and came after LG Display’s share price had surged by more
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