Activist private equity fund KCGI, former Korean Air Vice President Cho Hyun-ah, and Bando Construction, forming the Hanjin KAL 'shareholder alliance (three-party alliance),' have increased their shareholding to 37%.
Grace Holdings, an investment purpose company under KCGI, disclosed on the 20th that it increased its stake in Hanjin KAL from 32.06% as of the previous reporting date to 37.08% by purchasing additional shares. This figure includes the combined shares of KCGI, former Vice President Cho who has a joint stock holding agreement, and Bando Construction affiliates.
Grace Holdings acquired an additional 200 shares of Hanjin KAL on the 3rd. Daehok Development acquired 2,230,542 shares from the 13th to the 20th, and Hanyoung Development acquired 741,475 shares from the 18th to the 19th. The method of change was on-market purchase, and the reason for the change was simple additional acquisition.
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