Susean Heavy Industries Sells 2.5 Million Shares of Affiliates via Block Deal

[Asia Economy Reporter Yoo Hyun-seok] Susan Heavy Industries announced on the 16th that it disposed of 2.5 million shares held by its affiliates through a block deal (off-hours large volume trading). This amount corresponds to 4.63% of the total issued shares. The selling price per share was 4,457 won, approximately an 8.5% discount from the previous day's closing price.

This block deal was aimed at securing additional funds for factory efficiency investments by Susan CSM, a subsidiary of Susan Heavy Industries. On the 2nd, Chairman Jeong Seok-hyun and others stated that the proceeds from the block deal of Susan INT shares would be used for investments in subsidiaries of Susan Heavy Industries.

Chairman Jeong Seok-hyun is the largest shareholder of Susan Industry, which announced the sale through the block deal on the same day. Susan Heavy Industries plans to maximize synergies such as strengthening business competitiveness and cost reduction in the special vehicle business sector through Doseong Special Vehicles, acquired together with Susan CSM in December last year, thereby enhancing domestic and international competitiveness.

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