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WHOLESALE BANKING | Cesar Tordesillas, Korea
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S. Korea's central bank to sell share in KEB

South Korea's central bank will sell off its entire 39.5 million shares in Korea Exchange Bank worth US$277.3 million

 

The proceeds to go into government coffers.

Bank of Korea's 39.5 million shares is 6.12 percent of the lender's 644.9 million shares. No deadline has been set on when sales must be completed, the bank said.

KEB shares can be sold on the main bourse or through outside dealings including a negotiated contract with a designated buyer.

"Disposal of stocks will be decided by market conditions and how best to get the most out of the sale," the BOK said.

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