[Asia Economy Reporter Hwang Junho] MP Group announced on the 9th that it will transfer 17,426,961 shares of its subsidiary MP Hangang, which is responsible for cosmetics import and distribution, to Jaahn Group and Jaahn Co., Ltd. on the 29th. MP Group stated that this transaction is being conducted to improve its financial structure, and the transaction amount is 24.5 billion KRW.
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The external evaluation firm, accounting firm Pyeongjin, commented on this transaction, stating, "The stock price per share in this transaction ranges from a minimum of 968 to 2,150 KRW, and the transfer price of 1,406 KRW per share falls within the range of the per-share valuation reflecting the management premium." After the share transfer, MP Hangang's stake will decrease to 6,970,784 shares (8.73%).
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