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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment, Market

S.Korea wealth fund to raise stake in BofA

Posted on 23 September 2011

Choi Chong-sukSouth Korea’s sovereign wealth fund plans to increase its stake in Bank of America , a media report said on Friday. “We are trying to purchase additional shares with the dividend (we received from our existing stake),” Yonhap News Agency quoted Korea Investment Corp (KIC) CEO Choi Chong-suk as saying.
His remarks on the share purchase in the largest U.S. bank by assets came after the fund said it already re-invested $78 million this year, about half the dividend from its $2 billion investment……………………………………….Full Article: Source


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