[Alpha Biz=(Chicago) Reporter Kim Jisun] Korea Electric Power Corp. sold part of its stake in its subsidiary KEPCO E & C to secure an additional KRW 350 billion in liquidity.

According to the energy industry on the 3rd, KEPCO sold its 14.77% (5,645,594 shares) stake in KEPCO E & C to a special purpose company (SPC) established by Mirae Asset Securities on the 28th of last month. The sale price per share is 62,000 won, totaling 350 billion won.

The sale lowered KEPCO's KEPCO E & C stake from 65.77% to 51%. The second largest shareholder of KEPCO E & C is the Korea Development Bank (32.9%).

 

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