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[Apha Biz=(Chicago) Reporter Paul Lee] Activist hedge fund Flashlight Capital Partners (FCP), which insisted on KT＆G's separate listing of Ginseng Corp. and even competed with the company at this year's regular shareholders' meeting, is preparing for the second shareholder proposal.
According to the investment banking (IB) industry on the 5th, the FCP sent a questionnaire to the KT＆G at the end of last month regarding the enhancement of corporate value while requesting the reading and copying of the shareholder list.
The FCP could no longer push for a separate listing of its subsidiary Korea Ginseng Corp., which it had consistently insisted on, as most agenda items other than quarterly dividends were rejected at KT＆G's regular shareholders' meeting in March.
KT＆G saw its sales increase for the third consecutive year until last year, but its operating profit declined. From the first half of this year, sales also fell about 3.1% year-on-year to 2.7317 trillion won, with operating profit falling about 14.8% to 562.6 billion won.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
