South Korean Hana Financial has raised a total cash reserve of KRW 2tn (USD 1.64bn) which can be used for potential M&A, reported Asia Today.
The report, which cited industry sources, claimed that Hana recently raised KRW 2tn in preparation for the anticipated M&As in the South Korean financial industry.
According to the report, if Hana Financial could make acquisition play for Woori Finance, it may further raise funds by inviting overseas financial investors and bonds issuance.
For more information see ‘Korean ‘mega-bank’ debate reopens‘, or here for more posts on the consolidation of Korea’s financial industry.
Source: Asia Today (translated)
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