Three long-standing private equity investors offloaded their stakes in South Korean firm Hanmi Semiconductor on Tuesday, raising $36 million in the process by way of an accelerated block share sale.
Shares were priced at W14,600 $14.34 a unit, at the bottom end of an initial W14,600 to W14,850 range and at a 3.9% discount to their June 23 close, reflecting South Korea's recently shaky stock market performance with the bellwether Kopsi Index down 1% since June 17.
Long-only institutional funds made up 80% of the book, according to a source close to the deal, and about 20 investors in all participated, split evenly between domestic...
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