MBK Partners partially cashed out its stake in South Korea’s Coway through an accelerated bookbuild ABB of shares on Monday, extending a dealmaking streak in the public markets that began early last year.
MBK raised $330 million through the Reg-S only sale of 3.78 million Coway shares at W98,000, at the bottom of the W98,000 to W101,000 guidance range. The final price represented a 6.7% discount to the stock’s Monday close.
The 5% stake sale in Korea’s leading water purifier maker marks the first monetisation for the Korean private equity firm since it bought a 30.9% stake back in 2012 for $1.1 billion, or...
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