KT&G: with a little help from some friends

The difficult execution of the Korean government's final divestment of stock in Korea Tobacco & Ginseng (KT&G) last Friday has cast an even more negative pall over what remains of the year's depleted equity pipeline. Many have concluded that if such a defensive stock with one of Asia's most attractive dividend yields has struggled to attract investor interest in the current market, what hope is there for anyone else.