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Lazard Asset Management has tapped multiple professional investors in South Korea to sell off its shares in Osstem Implant Co, worth $165 million, trading of which has been suspended since Jan. 3, according to people with knowledge of the matter on Tuesday.The global asset manager holds a 9.7% stake, or 1.39 million shares in the country's largest dental implant maker via 43 funds as of November 2021. Based on Osstem's share price of 142,700 won on Jan. 3, its stake is valued at 197.7 billion won ($165 million).Lazard proposed a 40% discount on the share price because of the uncertainty about the resumption of its share trading, they said."Offering the shares at almost half the market price indicates its determination to dispose of them," one of the people told The Korea Economic Daily."They might have faced a redemption call from fund investors as well."Osstem on Jan. 3 revealed itself the victim of the largest-ever embezzlement scandal for a Korean listed company, totaling 188 billion won ($160 million). The number was later revised upward to 221.5 billion won to include the money the accused had previously stolen from the company and returned secretly.It expects to retrieve 141.4 billion won, or about 65% of the embezzled money.On Feb. 17, the Korea Exchange will announce the conclusion of its review of Osstem's qualification as a listed company. Market observers said the company would have low chances of its share trading being resumed.In the worst-case scenario, the stock trading will remain halted for up to three years, considering the period needed to carry out its self-resucue program to meet requirements set by the bourse operator. "Lazard may want to minimize opportunity losses by selling them off at a discount, but it is still uncertain whether its stake sale plan will be successful."On Tuesday, Osstem said its operating profit in 2021 jumped 44.6% on-year to 141.8 billion won, with sales up 30.3% to 822.9 billion won. But its net profit plunged 69% to 31.9 billion won, after booking the losses related to the embezzlement. By Jae-Young Hanjyhan@hankyung.comYeonhee Kim edited this article.