Seoul trims stake in Industrial Bank of Korea

The long-awaited deal raises $250 million after being upsized by 77%. Separately, a former director of CIMC Enric pockets $121 million from the sale of his remaining shares in the company.

The Korean ministry of strategy and finance has reduced its stake in Industrial Bank of Korea (IBK) through a block trade, raising W264.94 billion ($250 million).

¬ Haymarket Media Limited. All rights reserved.

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