Kepco nets $808m in largest S Korean trade

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By Rashmi Kumar
30 Oct 2014

Korea Electric Power Corp (Kepco) has raised W855.6bn ($808m) by selling all its treasury shares via a block trade on October 23 to become the largest South Korean ECM transaction so far this year. Priced just above the lower end of the range, the deal resonated well with international investors, with demand from them alone taking books to around three times covered.

The clean-up trade saw Kepco offload 18.9m treasury shares, or 2.95% of the company’s share capital. Launched to the market at 3pm Hong Kong time on Thursday (October 23), the deal had a price range of W45,000-W46,400 per share. This translated to a 0%-3% discount to the closing price ...

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