The South Korean government plans to offload a 7-8% stake in listed Woori Finance via a block sale, reported the Maeil Business Newspaper.
The article (Korean) citing the Public Funds Oversight Committee, states that the committee held a meeting yesterday (27 January) to resolve the sale plan and selected several financial advisors for the sale.
The South Korean government, which holds a 66% stake in Woori Finance through Korea Deposit Insurance, was reportedly considering selling the stake.
The committee also determined the optimal rate of discount. The sale is expected to take place in an appropriate time after the lock-up deadline of 24 February.
The financial advisors and discount rate were not disclosed in the report.
For information on the ongoing privitization of Woori Finance see previous posts – ‘Update: Woori Finance’s Privatization‘, ‘Woori Finance could be merged prior to privatisation‘ and finally ‘In the news: Woori, Hynix, and Daewoo two‘.
(Source: Maeil Business News)
No related posts.
