[Alpha Biz= Reporter Kim Jisun] On the 23rd, LS announced that it would acquire 299,000 shares of LS Electric, a subsidiary company, for 635.38 billion KRW. Following the acquisition, LS will own 14,539,000 shares, representing a stake of 48.46%.
LS stated that the purpose of the acquisition is to strengthen its management control over the subsidiary and increase the value of its stake in LS Electric. Meanwhile, LS Electric disclosed that it plans to dispose of treasury stocks to secure investment funds and improve its financial structure.
The acquisition price is set at the closing price on the 23rd, which is 212,500 KRW per share. The transaction is scheduled to take place through off-hours bulk trading before the market opens on the 24th.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
