From National Pension Service to Industrial Bank of Korea... Change of KT&G's Largest Shareholder
KT&G announced on the 17th that its largest shareholder has changed from the National Pension Service to the Industrial Bank of Korea.
The change in the largest shareholder is due to a decrease in the number of shares owned by the National Pension Service. Previously, in July 2015, the largest shareholder changed from the Industrial Bank of Korea to the National Pension Service, and after 8 years, the Industrial Bank of Korea has become the largest shareholder again.
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According to the financial investment industry, the second largest shareholder is understood to be the U.S. investment firm 'First Eagle Investment Management LLC.' This is interpreted as reflecting the rising trend of KT&G's foreign ownership ratio. As of the end of 2021, KT&G's foreign ownership ratio was 35.6%, which increased to 43.0% in the second quarter of this year. Based on the number of voting shares, KT&G's foreign ownership ratio reached a majority of 50.8% in the second quarter of this year.
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