 |
Photo courtesy of Yonhap News |
[Alpha Biz= Ellie Kim] SEOUL, June 5 — KT&G is drawing increased interest from global investors as foreign ownership in the company has surpassed 51%, with First Eagle Global Fund emerging as a major shareholder.
According to a regulatory filing, First Eagle Global Fund held a 5.02% stake in KT&G as of May 15, joining other global institutional investors such as Capital Group, BlackRock and the Government of Singapore Investment Corporation.
The increase in ownership was partly driven by KT&G’s treasury share cancellations, which reduced the total number of outstanding shares and boosted existing shareholders’ stakes.
The company’s improving earnings — led by strong growth in its overseas tobacco business — and expanded shareholder return policies, including buybacks and higher dividends, have further enhanced its appeal to foreign investors.
KT&G reported solid first-quarter results, with revenue and operating profit rising 14.3% and 27.6% year-on-year, respectively.
Alphabiz Ellie Kim 인턴기자(press@alphabiz.co.kr)
