Doosan Owner Family Sells 5.6 Million Shares of FuelCell

[Asia Economy Reporter Ki-min Lee] The Doosan Group owner family, currently undergoing restructuring, has sold 5.6 million shares, equivalent to half of their stake in Doosan Fuel Cell.

On the 6th, Doosan Fuel Cell disclosed that nine individuals, including Doosan Group Chairman Park Jung-won, sold 5.6 million common shares through an off-hours block trade. This represents a 10.09% stake based on common shares.

Chairman Park and the owner family decided on the 5th to dispose of 19.7% of their Doosan Fuel Cell shares and began a demand survey through the lead underwriters Korea Investment & Securities, KB Securities, and Credit Suisse. The 19.7% stake excludes the 23.0% Doosan Fuel Cell shares previously donated free of charge by the Doosan owner family to Doosan Heavy Industries. However, it was reported that institutional investors’ orders amounted to only 50% of the desired sale volume.

The sale amount is estimated to be around 210 billion KRW, considering the previous day’s closing price of Doosan Fuel Cell. The Doosan Group owner family plans to use the proceeds from this sale to release the collateral set on the 23.0% Doosan Fuel Cell shares donated free of charge to Doosan Heavy Industries.

An industry insider stated, "This sale is a follow-up measure to resolve stock-backed loans ahead of the free donation."

This content was produced with the assistance of AI translation services.