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Sovereign Wealth Funds Briefing - Categorized | Market

Hana tumbles after Temasek’s $607 mln stake sale

Posted on 21 October 2010

From Reuters: Hana Financial Group’s (086790.KS) shares tumbled 6 percent on Thursday, hurt by concerns about the company’s expansion plans after its top shareholder Temasek sold its entire 9.6 percent stake worth $607 million.
The stake sale by the Singapore state investor, which has been shifting its focus to the resources and energy sector, could mark a setback for Hana as it tries to gather shareholder backing for its move to merge with bigger Woori Finance Holdings to challenge larger banks, analysts said……………………………………….Full Article: Source


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