SEOUL, March 8 (Reuters) - A Seoul court has accepted Hana Financial Group Inc’s request to invalidate the listing suspension of its new shares worth 1.46 trillion won ($1.31 billion), Hana said on Tuesday.
In late February, South Korea’s stock exchange delayed the listing of Hana’s (086790.KS) new shares after four existing shareholders filed a lawsuit to nullify the rights issue as part of financing for its $4.1 billion takeover of Korea Exchange Bank 004940.KS. [ID:nTOE71O01Z]
The move could ease worries over the completion of the country’s biggest banking deal as the company is awaiting regulatory approval.
A Hana spokesman said the court had accepted its injunction to prevent the South Korean bourse from delaying the share listing but turned down its request for an immediate listing.
A Korea Exchange spokesman said the bourse would make a decision taking the court ruling into consideration. (Reporting by Ju-min Park; Editing by Chris Lewis)