(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] IMM Private Equity (PE), which is driving the sale of HanaTour's stake, has selected Citigroup Global Markets Securities as the lead underwriter.

HanaTour recorded its highest-ever quarterly performance in the first quarter, buoyed by a recovery in package tours. The operating profit for the first quarter, on a consolidated basis, reached 21.6 billion won, marking a 285% increase year-on-year, while sales surged by 121% to 183.3 billion won.

IMM PE, the largest shareholder of HanaTour, has been conducting the selection process for an underwriter to sell its stake (16.68%) held through the special purpose company, Harmonia 1. The sale also includes shares owned by special related parties, including Chairman Park Sang-hwan (6.53%) and Vice Chairman Kwon Hee-seok (4.48%), bringing the total stake for sale to 27.78%, valued between 200 billion and 300 billion won.

HanaTour stated through a disclosure that "specific details will be determined in accordance with discussions between IMM and the existing shareholders, including the two major shareholders."

 

 

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