(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Hyosung disclosed on the 11th that it has disposed of 556,930 treasury shares to Korean Air. Earlier, on the 10th of last month, it had announced the intention to dispose of these treasury shares. The disposal price per share was 62,290 won, totaling 33,543,333,000 won.

Hyosung, which is pursuing corporate restructuring, has not only sold these treasury shares but also previously retired 604,691 treasury shares, effectively eliminating all treasury shares. This move aims to dispel suspicions regarding the use of treasury shares, often dubbed the "treasury stock magic," to increase the controlling stake of major shareholders during the corporate split process.

The company stated, "The decision was made considering the enhancement of strategic collaboration."

 

 

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