KDIC takes W149bn from Woori Financial block

Seoul Korea_575px_adobe_25Feb21
By Jonathan Breen
09 Apr 2021

A South Korean state-backed insurer pared its stake in Woori Financial Group this week, selling a chunk of shares for W149.3bn ($133.2m), according to a source familiar with the matter.

Korea Deposit Insurance Corp (KDIC) turned to investors on Thursday, offering 14.4m of its shares in Seoul-based banking and finance giant Woori Financial.

The block represented 2% of the group’s share capital.

Bookrunners JP Morgan, Mirae Asset Securities and Samsung Securities held an accelerated bookbuild for the deal ...

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