S Korea's Hana Financial to raise US$851 mln via share issue
Sun. October 04, 2009; Posted: 09:41 PM
SEOUL, Oct 5, 2009 (Asia In Focus via COMTEX) --
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PowerRating -- HANA FINANCIAL GROUP INC.
(KSE:086790), South Korea's No. 4 financial services company,
is mulling a plan to raise at least 1 trillion won (US$851
million) in a new share offering in a bid to boost its capital
and prepare for future growth, a company official said Sunday.
"In order to secure a cash flow in pursuing a merger and
acquisition, the group is considering issuing common shares,"
said an official at the Hana Financial Group.
* The decision on the plan sale will likely be discussed at
a board meeting scheduled for Oct. 23, said the official,
adding that nothing has been fixed yet.
* Market watchers have speculated the share sale is aimed at
securing ammunition to purchase KOREA EXCHANGE BANK (KEB),
currently controlled by LONE STAR FUNDS of the United States.
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