Fund divests Hyundai Development block

Investor cashes out of Korean property and infrastructure developer.

An undisclosed institutional investor netted $129 million from a placement of shares in Korean construction company Hyundai Development Co yesterday January 18. The deal marked the third Asian divestment by an institutional investor so far this year following sell-downs in Techtronic Industries and STATS ChipPac.

The block trades may suggest that fund managers believe Asian markets are becoming fully valued, or at the very least they underline an increasing willingness to use the capital markets to exit investments quickly and cleanly once they reach funds' target prices.

Yesterday's sale in Hyundai Development comprised 3.4 million shares, or about 4.5% of the company. The shares were...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222