The Korea Deposit Insurance Corporation was reported to have postponed the plan to additionally sell its 1 trillion won stake in Woori Finance Holdings Co.
According to financial industry sources on Tuesday, KDIC, the largest shareholder of Woori Finance Holdings, put off its original plan for a block sale of a 7 percent stake worth about 1 trillion won among its total 73 percent stake in the financial company.
The decision came from the judgment that it is difficult to find an adequate purchaser amid worsening conditions in domestic and foreign equities markets and the credit crunch sweeping global financial markets and also that it is unlikely that they could fetch an favorable price even if a bargain is realized.
KDIC had originally planned to offer its 1 trillion won worth stake in Woori Finance for a block sale during January and conducted the sales process by appointing Samsung Securities, Woori Investment & Securities and Citigroup as managers for the deal.
However, the corporation has decided to take a wait-and-see policy amid ongoing uncertainty around the equities markets around the world: the domestic markets nosedived with the benchmark KOSPI losing more than 250 points in January and foreign bourses in the United States and China also remained bearish.
[Sun-young Park / KHS]
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
According to financial industry sources on Tuesday, KDIC, the largest shareholder of Woori Finance Holdings, put off its original plan for a block sale of a 7 percent stake worth about 1 trillion won among its total 73 percent stake in the financial company.
The decision came from the judgment that it is difficult to find an adequate purchaser amid worsening conditions in domestic and foreign equities markets and the credit crunch sweeping global financial markets and also that it is unlikely that they could fetch an favorable price even if a bargain is realized.
KDIC had originally planned to offer its 1 trillion won worth stake in Woori Finance for a block sale during January and conducted the sales process by appointing Samsung Securities, Woori Investment & Securities and Citigroup as managers for the deal.
However, the corporation has decided to take a wait-and-see policy amid ongoing uncertainty around the equities markets around the world: the domestic markets nosedived with the benchmark KOSPI losing more than 250 points in January and foreign bourses in the United States and China also remained bearish.
[Sun-young Park / KHS]
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
'아이디어드림 > 아이디어거래소' 카테고리의 다른 글
| 용산 국제업무지구 개발 사업 본격 착수..13일 창립기념식 (0) | 2008.02.19 |
|---|---|
| Tax Cuts during the Next Five Years Estimated at 8.6 Trillion Won (0) | 2008.02.19 |
| Mortgage Loans Command Ready Sale (0) | 2008.02.19 |
| President-elect Lee Proposes Donation for Sungnyemun Restoration (0) | 2008.02.19 |
| [경제2.0] 투자행태의 경제학 (0) | 2008.02.19 |