Samsung Securities

An unfavoured sector, unsettled markets and nearly three weeks of secondary market trading risk conspire to push pricing towards the bottom of the private equity firm’s expectations.

Is the private equity-owned group offering a compelling enough story to tempt investors back to a sector which has been on a downswing for well over a year?

The deal was completed four years after the Korean policy bank announced its intention to sell, coming ahead of a change in accounting rules next year.

For the second time in less than a week a Korean firm is shying away from the international bond markets in favour of a local issue.

The fixed price deal is upsized by 26% following good demand from both international and domestic investors.

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 block trade comes following the tech company’s earnings announcement and after gains in Asian markets yesterday. It prices at a 1% discount to the latest close.

The firm moves to make most of its Hong Kong sales and trading team redundant in response to poor volumes. But it denies an SCMP report it is shutting the office completely.

The Korean power producer sells a 5% block in Kepco Plant Service & Engine on a day when global investors are focused on the US government’s sell-down in AIG.