Lotte Family's Shin Dong-ju Sells Remaining Stakes in Lotte Shopping and Lotte Chilsung Beverage
[Asia Economy Reporter Jang Hyowon] Shin Dongju, eldest son of the Lotte family, SDJ Chairman and CEO of Gwangyunsa, announced on the 3rd that he has disposed of all his shares in Lotte Shopping.
According to the Financial Supervisory Service's electronic disclosure, Shin sold 199,563 shares (0.7%) through off-hours trading on the 1st at 79,325 KRW per share.
Previously, Shin had sold affiliate shares to secure cash amid a management dispute with his younger brother, Shin Dongju, Chairman of Lotte Group. His stake in Lotte Shopping, which was over 14%, had decreased to 0.7%.
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Additionally, Shin also sold 26,020 shares of Lotte Chilsung Beverage through off-hours trading. As a result, Shin now holds no common shares of Lotte Chilsung Beverage and only 27,445 preferred shares.
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