daewoo

Policy bank completes its largest ever international bond offering as it prepares to play a leading role in the restructuring of Korea's ailing shipbuilding industry.

Shipbuilder executes clean-up trade in steel producer as investors watch for any signs of a turnround in sentiment towards the sector.

The Korean policy bank took advantage of a rise in Kumho’s stock price to launch the clean-up trade.

Strong and lumpy demand from international investors results in the government sell-down becoming the second Korean placement in a month to price flat to the market.

As the deal falls through, Korea Development Bank is left looking for another buyer in a more challenging market.

Hanwha is to buy KDB's controlling stake in Daewoo Shipbuilding, but doubts remain about its financing ability as Bank of Korea slashes interest rates in a battle to stave off crisis.

The deal is the second biggest in Korean M&A history, and catapults Kumho Asiana past Hyundai Construction to become the nation's top builder.

Taking advantage of a strong share price performance, Kamco and KDB will begin to pre-market a divestment in Daewoo Shipbuilding next week.

One of the first Daewoo group companies to complete its financial workout hopes to become the first since the financial crisis to issue international equity.