[Alpha Biz= Kim Jisun] Truston Asset Management announced on July 21 that it has formed a joint ownership structure with OK Capital, a subsidiary of OK Financial Group, to collectively hold approximately 5.7% of Taekwang Industrial’s outstanding shares.
According to a regulatory filing submitted the same day, Truston and OK Capital have agreed to jointly report their holdings through a substantial shareholding disclosure, with Truston acting as the lead filer.
A Truston representative explained that on July 18, the firm strategically transferred 25,970 shares (representing a 2.33% stake) to OK Capital via a block deal at KRW 1.155 million per share—the closing price on the transaction date. Following the transaction, Truston now holds a 2.97% stake in Taekwang Industrial, while OK Capital holds 2.73%.
The two firms have also agreed to jointly exercise voting rights and shareholder rights with respect to their combined holdings in Taekwang Industrial. Truston will take the lead in executing this joint shareholder engagement strategy.
As the second-largest shareholder of Taekwang Industrial, Truston emphasized its continued efforts since 2021 to improve the company’s corporate governance and enhance both enterprise and shareholder value.
A company spokesperson stated, “We are currently pursuing an injunction to block Taekwang Industrial’s recently announced KRW 320 billion exchangeable bond (EB) issuance, which was abruptly disclosed on June 27 and backed by treasury shares.” The spokesperson added, “As a joint stakeholder and lead filer, Truston remains fully committed to protecting and increasing the value of Taekwang Industrial.”
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
