KKR recoups $206 mn in block sale of HD Hyundai Marine shares

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The story "KKR recoups $206 mn in block sale of HD Hyundai Marine shares" was covered 19 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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KKR recoups $206 mn in block sale of HD Hyundai Marine shares - Korea Economic Daily

Quick Summary:

According to sources in the investment banking industry on Thursday, KKR offloaded 2 million shares, or 4.49%, of HD Hyundai Marine shares in a block trade led by JP Morgan and UBS after the market closed a day before.

Global private equity firm KKR & Co.Inc.has succeeded in cashing out of its stake in HD Hyundai Marine Solution Co.into 295 billion won ($206 million), more than what it intended during its first block-sale attempt thwarted by South Korea’s first martial law in over 40 years in December.

HD Hyundai Marine offered 8.90 million shares via listing on Korea’s main Kospi market to raise 742.6 billion won.It issued 4.45 million new shares while selling 4.45 million old shares, including KKR holdings.