[Alpha Biz= Reporter Kim Minyoung] Hyosung announced on the 10th that it will dispose of 556,930 shares (2.64%) of its own shares to Korean Air. The estimated disposal amount is about 33.1 billion won.
The transaction will take place on the 11th of next month in an off-hours trading (block deal) method. Hyosung said the purpose of the stake disposal is to "strengthen strategic cooperation."
In addition, Hyosung announced that it would incinerate 604,691 shares of its own shares already acquired. The estimated amount of incineration is about 21.9 billion won. The due date is the upcoming 20th.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
