July 6, 2017 / 8:22 AM / in 22 days

Posco to sell shares in KB Financial in block deal worth up to $384 million: IFR

1 Min Read

FILE PHOTO: The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016.Kim Hong-Ji/File Photo

SEOUL (Reuters) - South Korean steelmaker POSCO plans to sell a stake in KB Financial Group in a block deal worth up to 444 billion won ($383.9 million), IFR reported on Thursday, citing a term sheet.

POSCO has offered 7,727,030 KB Financial shares at a price range of 56,400 won to 57,400 won each, a discount of 1.2 percent to 2.9 percent to their Thursday closing price, reported IFR, a Thomson Reuters publication.

Reporting by Fiona Lau of IFR; writing by Hyunjoo Jin; Editing by Jacqueline Wong

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below