July 18, 2014 / 7:32 AM / 3 years ago

S.Korea pressing ahead with partial IBK stake sale - sources

SEOUL, July 18 (Reuters) - The South Korean government is pressing ahead with the sale of part of its stake in Industrial Bank of Korea (IBK) and a deal was imminent, two sources at the country's finance ministry with direct knowledge of the matter said.

A banker with knowledge of the deal said the government has put up for sale a part of its 60 percent stake at a discount of about 5 percent from its Thursday closing price.

Earlier in the day, a separate finance ministry official had said that the deal had been cancelled.

The sale had been expected to raise up to 300 billion won ($290 million), according to a media report.

No other details were immediately available.

Sources declined to be identified as they were not authorised to speak to the media. (Reporting by Christine Kim and Lee Shin-hyung; Editing by Tony Munroe and Edwina Gibbs)

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