(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] Woori Bank to Sell Kumho Tire Stake via Block Deal

On the 17th, Woori Bank announced plans to address institutional block deal demand for its 11 million shares (3.83%) stake in Kumho Tire. The sale is set to apply discounts ranging from 8% to a maximum of 12% compared to the day's closing price of 6,190 won per share. Daol Investment & Securities will manage the block deal.

Industry experts evaluated the timing of the bond lenders' efforts to recover investment funds from Kumho Tire favorably, citing robust recovery in the tire market recently.

 

 

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