Coway tumbles 19 pct after top shareholder agrees to sell a stake

Woongjin Co

29/10/2018 24:48

** Shares of South Korean water purifier rental firm Coway
 021240.KS  tumble 19 percent after former affiliate Woongjin
Thinkbig  095720.KS  says on Monday that it has agreed to buy a
22.17 percent stake in the company for 1.68 trillion won ($1.47
billion).
    ** A holding firm set up by South Korean private equity fund
MBK will sell the stake on March 15, 2019, according to a
regulatory filing of Woongjin Thinkbig. 
    ** Shares of Woongjin Thinkbig rises 3.9 percent; its parent
Woongjin Co  016880.KS  rallies 13 percent. 
($1 = 1,139.9100 won)

 ((Reuters Messaging:
hyunjoo.jin.thomsonreuters.com@reuters.net))