IMM PE exits Woori Financial with double-digit return

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The story "IMM PE exits Woori Financial with double-digit return" was covered 2 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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IMM PE exits Woori Financial with double-digit return - Korea Economic Daily

Quick Summary:

In 2016, IMM purchased a 6% stake in the holding firm from the Korea Deposit Insurance Corp.at 11,000 won per share for a total of 446.2 billion won.It had reaped 625.4 billion won in proceeds from the three rounds of stake sales in Woori between 2024 and last week, on top of the dividend income of 180 billion won.They translated into 2.4 times invested capital and a 13.9% internal rate of return.

IMM Private Equity has divested its remaining 1.38% stake in Woori Financial Group for 166.4 billion won ($115 million), exiting the South Korean financial holding company nine years after its investment.

The Seoul-based private equity firm sold 10,261,893 shares in Woori in a block deal on Jan.9 at 16,218 won per share, according to investment banking sources on Monday.