Industrial Bank of Korea IBK raised $298.4 million after pricing some 26.2 million global depository receipts at 11,390 won $10.94, a 4.45% discount to the closing price on April 11.
The deal was initially set to price on Tuesday but volatile markets encouraged bankers to do an accelerated bookbuild late Friday night. “Markets were coming down, so books opened and closed quickly after markets closed,” one banker close to the deal told FinanceAsia.
Books were fully covered 15 minutes after opening, with Citi, Goldman Sachs and UBS leading the deal.
More than 40 investors participated in the deal, the...
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