Forecast: Woori Financial Group Sells 2.2% Stake... "Public Funds Recovered 239.2 Billion Won"
[Asia Economy Reporter Song Seung-seop] The Korea Deposit Insurance Corporation (KDIC) has recovered public funds by selling a 2.2% stake in Woori Financial Group.
According to the financial sector on the 11th, the KDIC's Public Fund Management Committee sold 15.86 million shares (2.2%) of Woori Financial Group before the stock market opened that day. The amount of public funds recovered was 239.2 billion KRW.
Last year, Woori Financial Group effectively achieved full privatization. The KDIC sold part of its remaining 5.8% stake. As a result, the recovery rate of public funds for Woori Financial Group rose by 1.9 percentage points from 96.6% to 98.5%.
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A KDIC official stated, “We will strive to smoothly sell the remaining 3.6% stake.”
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