Hyundai Heavy Holdings Acquires 2.9 Million Shares of Korea Shipbuilding & Offshore Engineering to Increase Stake
[Asia Economy Sejong=Reporter Dongwoo Lee] Hyundai Heavy Industries Holdings announced on the 24th that it purchased 2.9 million shares (4.1%) of Korea Shipbuilding & Offshore Engineering, the intermediate holding company for shipbuilding within the Hyundai Heavy Industries Group, through an off-hours block trade.
The total purchase amount was 251.43 billion KRW. The shares purchased this time consisted of 1.91 million shares (2.7%) held by KCC and 990,000 shares (1.4%) held by the Asan Social Welfare Foundation. Hyundai Heavy Industries Holdings explained that the purpose of this stock acquisition was "to enhance management efficiency and realize responsible management through additional acquisition of subsidiary shares."
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
Hyundai Heavy Industries Holdings secured a total of 24,807,124 shares (35.05%) by adding the newly acquired 2.9 million shares to the previously held 21,907,124 shares (30.95%) of Korea Shipbuilding & Offshore Engineering.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
