Kyongnam and Kwangju Bank are finally up for sale as an initial step for privatizing Woori Finance Holdings. The Korea Deposit Insurance Corporation made a public announcement to sell its 56.97% share in the banks on July 15, Monday.
*Stocks for sale: Korea Deposit Corporation’s 56.97% stake in Kyongnam and Kwangju Bank
*Purchase method: competitive open bidding
*Due date for indicative bidding application: Sep. 23, 2013
*Documents for submission: indicative offer application form and related documents
*For more detailed information, please visit KDIC’s website (www.kdic.or.kr) or contact Daewoo Securities (Tel: 02-768-3441), Samsung Securities (Tel: 02-2020-7561), and J.P.Morgan (Tel: 02-758-5120)