Korea’s Kepco halves LG U+ stake with $180m block

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By Rashmi Kumar
07 Aug 2014

Korea Electric Power Corp (Kepco) netted W186.3bn ($180m) on Monday by selling a 4.4% stake in telecommunications company LG U+. Despite the leads opening bookbuilding without much demand already lined up, investors flooded into the deal, eager to get their hands on the stock.

Bookrunners Citi and Woori Investment & Securities opened books on August 4 at around 3pm Hong Kong time, offering 19.2m shares at guidance of W9,600-W9,800. By the time books closed at 8pm, the deal was heavily oversubscribed, with bids in from domestic funds as well as global ...

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