By Prudence Ho
HONG KONG--The government of South Korea is raising about $242
million by selling shares in Industrial Bank of Korea.
The Ministry of Strategy & Finance is selling 19.2 million
shares in the lender at a fixed price of 13,000 won (US$12.65) per
share, or a 4.8% discount of Thursday's closing price of 13,650
won, according to a term sheet seen by The Wall Street Journal
Thursday.
The government is barred from selling any additional shares for
90 days.
Bank of America Merrill Lynch, J.P. Morgan Chase & Co.,
Korea Investment & Securities and Samsung Securities are
handling the share sale, said in the term sheet.
IBK was established in 1961 as a policy bank to support small-
and midsize businesses, and went public in 2003.
Write to Prudence Ho at prudence.ho@wsj.com
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