It sold its stocks worth 380 billion won (US$339.74 million) in an after-hours block deal on the previous day to institutional investors, lowering its stake to 26.5 percent but continues to be the largest. It has vowed a one-year lock up to the investors.
The country’s largest private equity firm MBK Partners acquired 30.9 percent stake in Coway for 1.19 trillion won in 2013. It attempted to sell off its stake in 2015 but failed.
By Hwang You-mee (email@example.com)