SM Group purchases an additional 23.7 billion won in HMM shares this year

SM Group purchases an additional 23.7 billion won in HMM shares this year: COMPANY / Reporter Kim Jisun / 2023-07-10 05:58:24

[Alpha Biz=(Chicago) Reporter Kim Jisun] SM Group and related parties bought additional HMM shares as the government pushed for the sale to privatize HMM.

According to the Financial Supervisory Service's Electronic Disclosure System (DART) on the 7th, SM Group's Dong-A Construction Industry purchased 694,000 HMM shares (0.14%) from May to June. The acquisition cost is 12.7 billion won in total. Woo Ki-won, vice president of SM Group Chairman Woo Oh-hyun's son, also spent 11 billion won from April to May to buy an additional 549,451 shares of HMM. Woo's HMM shares totaled 817,500 shares (0.17%).

HMM shares of SM Group and related parties increased from 5.52% in June last year to 6.56%. SM Group has been steadily buying HMM shares since 2021. Chairman Woo and executives of affiliates, as well as SM Merchant Marine, Daehan Merchant Marine, SM High Plus and Woobang, invested about KRW 950 billion in HMM stocks. However, SM Group has drawn a line with HMM mergers and acquisitions (M&A). This year's stock purchase is also a "simple additional acquisition."

KDB Industrial Bank, the largest shareholder of HMM, has selected Samsung Securities Co., Samil Accounting Corp. and law firm Plaza as its sales advisory group and is in the process of selling HMM.