Korea Aerospace shareholder to sell 5 pct stake for $143 mln -term sheet

HONG KONG Mon Feb 10, 2014 2:22am EST

Related Topics

HONG KONG Feb 10 (Reuters) - A shareholder in Korea Aerospace Industries (KAI) plans to offload its entire stake in the aircraft maker, selling up to $143 million worth of shares, according to a term sheet of the deal seen by Reuters on Monday.

Odin Holdings Co. Ltd, which owns a 5 percent stake in KAI, plans to sell 4.9 million shares in an indicative range of 30,360-30,990 won each. The shares are being offered at a discount of up to 5 percent to the closing price of 31,950 won on Monday.

KAI shares rose 1.4 percent on Monday and have jumped 27.5 percent over the past year. (Reporting by Elzio Barreto; Editing by Edwina Gibbs)