Two Korean government-linked bodies raised a combined W619.6bn ($586m) on Wednesday by selling shares in Korea Power Electric Corp in one deal and Daewoo Shipbuilding and Marine Engineering in another. Both deals saw huge demand from investors.
Emboldened by the Kospi’s four day rally leading into Tuesday, which saw the index move up 3.3% to 2,031, Korea’s Financial Services Commission (FSC) came to the market to sell a 5% stake, or 9.57m secondary shares, in Daewoo Shipbuilding at a fixed price of W35,550 per share
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