HDC Moves to Defend Stock Price by Purchasing 1 Million Shares of Hyunsan

[Asia Economy Reporter Lim Hye-seon] As HDC Hyundai Development Company's stock price plummeted due to the large-scale collapse accident in Gwangju, HDC, the group's holding company, took action to defend the affiliate's stock price by purchasing shares.

According to the Financial Supervisory Service's electronic disclosure system and HDC on the 17th, HDC purchased 1,003,407 common shares of Hyundai Development Company on the market from the 13th to that day.

They bought 573,720 shares on the 13th, 299,639 shares on the 14th, and 130,048 shares on the 17th. As a result, HDC's stake in Hyundai Development Company increased from 40% to 41.52%. During the same period, HDC affiliate MNQ Investment Partners purchased 329,008 common shares of HDC on the market.

The total purchase amount of Hyundai Development Company and HDC stocks bought by HDC and MNQ Investment Partners respectively is approximately 23 billion KRW.