The Korean government executed a $353 million placement in the Industrial Bank of Korea IBK slightly later than expected on Friday afternoon.
A 28 million share equity deal was initially launched after Thursday's close at a fixed price of W13,000 - a 4.8% discount to the stock's W13,650 close.
Strong demand led the issuer to lift the offering size to $353 million it was initially marketed at $242 million and boost the number of shares to 28 million from 19.23 million, according to a term sheet seen by FinanceAsia.
Although launched on Thursday night, the deal was not finalised until Friday...
¬ Haymarket Media Limited. All rights reserved.
