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IMM PE to invest W134.7b to become HanaTour’s top shareholderBy Son Ji-hyoung
Published : Dec. 24, 2019 - 15:39
IMM PE will buy HanaTour’s newly issued 2.3 million common shares, or 16.7 percent of the outstanding shares, for 134.7 billion won ($115.8 million) -- with a 16.3 percent premium to its market price -- according to HanaTour’s disclosure.
The payment is due on Feb. 28 followed by a five-week due diligence. The new shares will be listed on the Korea Exchange by March 23.
HanaTour Chairman Park Sang-hwan is currently the biggest shareholder, with 7.83 percent voting rights.
Trading on the main bourse Kospi, more than a 65 percent stake in HanaTour is in the hands of retail investors. Other major shareholders include the National Pension Service, Kiwoom Private Equity, as well as Park.
By Son Ji-hyoung (email@example.com)
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