“We turned down a quarter of a billion cash offer… because our bankers said we were about to IPO for half a billion.”
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Said on True Wealth: money & business podcast
Closing Bell · Closing Bell 11/10/26
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issued eight cash tender offers to buy back up to $1.5 billion in outstanding notes
$1.5 billion
“We turned down a quarter of a billion cash offer… because our bankers said we were about to IPO for half a billion.”
“We wrote an open letter ... tender offer price was at 6,700 ... I felt fair value was at least 30,000 Korean won per share ... zero shares were tendered ... controlling shareholders then pursued enhancing corporate value”
“And Liberal Democrats have suggested a proposal that's backed by the former chief economist of the Bank of England to issue defence bonds, £20 billion worth of investment to help rapidly improve our defence capability.”
“We bought it for a billion. I think they bought it back for about eight.”
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