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View of Apgujeong main branch of Hyundai department store (photo = Yonhap news) |
[Alpha Biz= Reporter Paul Lee] Hyundai Department Store announced on the 17th that it has decided to sell its entire stake in Hyundai Home Shopping to Hyundai GF Holdings, a holding company.
The move comes after Hyundai GF Holdings announced on the 3rd that it would publicly purchase 3 million shares of Hyundai Home Shopping to meet the holding company's restrictions on activities.
Hyundai Home Shopping owns 15.8% (1,896,500 shares).
The disposal unit price is 64,200 won, and the total disposal amount is 121.75 billion won.
However, if the number of shares applied for the open purchase exceeds the maximum number of 3 million shares to be purchased, the final number of shares sold by Hyundai Department Store may change as they will be purchased proportionally.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
