Second time lucky for the Chungs with $1.06bn Hyundai Glovis sale

The Chung family has finally managed to shed some of its shares in South Korean conglomerate Hyundai Glovis, raising W1.16tr ($1.06bn) via a block trade on February 5 that hit the market less than a month after an earlier transaction failed to gain traction among investors. The presence of a domestic bookrunner, longer lock-ups on the selling shareholders and more proactive conversations with investors ahead of launching the trade ensured that this time round there was no room for any botch-up.