KDIC raises $113 million from clean-up sale in SK Hynix

Korea Deposit Insurance Corp KDIC has sold its entire remaining stake in SK Hynix, one of the world’s major semiconductor suppliers, raising W126.1 billion $113 million. The deal fixed the price just below the mid-point of the indicative range for a tight 1% discount.

Block trade activity in Asia has been quiet in recent weeks, as volatility accelerated in the global markets due to investor concerns about the health of the world’s economy.

But last night turned out to be opportune timing for the share sale in Hynix. The Korean tech company’s stock rose after it reported solid earnings results earlier in the day, and the...