Hanyang Securities (photo = Hanyang Securities)

 

[Alpha Biz= Reporter Kim Minyoung] The Hanyang Foundation, the largest shareholder of Hanyang Securities, is set to proceed with the sale of its stake.

Hanyang Securities announced after the market closed on the 23rd, "Following confirmation from our largest shareholder, the Hanyang Foundation, we have received approval from the Ministry of Education for the sale of Hanyang Foundation's stake, and specific sale procedures will be undertaken."

This announcement follows a request for a public disclosure inquiry by the Korea Exchange on the 12th regarding reports of the largest shareholder's stake sale. Updates were previously disclosed on the 15th and 19th.

The Hanyang Foundation held a board meeting on the 9th and decided to sell 1,514,025 shares of Hanyang Securities. This includes 1,437,590 common shares (11.29%) at 10,803 KRW per share and 76,435 non-voting preferred shares (14.56%) at 13,483 KRW per share.

The total sale amounts to approximately 16.56 billion KRW, with the per-share disposal price based on the average stock price over the past four months. As a result, the Hanyang Foundation's stake will decrease from 16.29% to 4.99%.

 

 

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