In today’s briefing:
- KB Financial Placement – Momentum Has Been Strong and the Last Clean-Up Sale Has Done Well
- Carlyle Group Selling More than 320 Billion Won Worth of KB Financial in a Block Deal Sale
KB Financial Placement – Momentum Has Been Strong and the Last Clean-Up Sale Has Done Well
- The Carlyle Group / (CG US) via Kingsman Investment, is looking to raise US$244m from selling its entire stake in KB Financial (105560 KS).
- Carlyle has been invested in the firm since mid-2020, where it then expressed that it would hold on to its stake for at least three and a half years.
- The deal would be a small one to digest at just 3.8 days of KB Financial’s three month ADV, representing 1.2% of its current mcap.
Carlyle Group Selling More than 320 Billion Won Worth of KB Financial in a Block Deal Sale
- After the market close on 14 February, KB Financial announced that The Carlyle Group is trying to sell a 1.2% stake in the company through a block deal sale.
- The expected block deal price range is 64,608 won to 65,954 won per share, representing a 2 to 4% discount to the closing price of 67,300 won on 14 February.
- We would pass on this block deal sale. Despite excellent gains so far YTD, there is looming risk of many investors that may bail out of KB Financial post ex-dividend.
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