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Korea Deposit Insurance Corp to sell part stake in Woori Hldg

 

Tuesday, Nov 24,2009, 11:11:00 AM   Click:

South Korea's state-run deposit insurance agency plans to sell part of its stake in WOORI FINANCE HOLDINGS CO. (KSE:053000) through block trade, financial sources said Monday. The KOREA DEPOSIT INSURANCE CORP. (KDIC), which holds a 73 per cent stake in Woori Finance, is expected to unload about 4 per cent of its shares at 15,350 won (US$13.3) apiece via block trade on Tuesday before the market opens, according to financial sources.

* The offered price is a 4.4 per cent discount from Monday's closing price.

* Excluding a controlling 50 per cent stake plus one share, the KDIC is looking at market conditions to sell its 23 per cent interest in the financial firm through block trade.

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