Kookmin sets rights price as acquisition rumours mount

23 Aug 2009

KB Financial Group, the parent of Korea's Kookmin Bank, set the final price for its rights issue on Friday, confirming that it will raise W1.12tr ($900m) in a fully-underwritten deal that analysts expect will boost its capital base ahead of a big domestic acquisition.

KB will sell 30m new shares at W37,250 a share, 32% below Friday's closing price of W54,500. The final price is the same as the initial reference price, released a month ago. KB had said the final offer price would be the lower of the two.

Goldman Sachs, ...

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