Hyun Jeong-eun, chairman of Hyundai Group, took a step closer메이저사이트 to transitioning into a holding company through ‘Hyundai Holdings Company’. On the 28th, he handed over all of his shares in Hyundai Elevator to his family’s company, Hyundai Network. As a result, there are observations that the transition to the holding company of the Hyundai Group will begin in earnest.
Hyundai Elevator announced on the 28th that Hyun Jeong-eun, chairman of Hyundai Group, sold 3,196,209 shares to Hyundai Elevator over-the-counter. The selling price per share is 49,440 won, which is a 20% premium to the closing price on the 24th (41,200 won). The total selling price is 158 billion won. Therefore, Chairman Hyun Jeong-eun’s stake in Hyundai Elevator went from 7.83% to 0%. Hyundai Network increased its stake in Hyundai Elevator from 10.61% to 18.44%. H&Q
, a local private equity fund that previously emerged as Hyundai Elevator’s ‘white knight’, was selected as the preferred bidder for financing that Chairman Hyun’s side is pushing to defend Hyundai Elevator’s management rights in June. H&Q will invest about 310 billion won in Hyundai Network by acquiring convertible bonds ( CB ), old shares, and exchangeable bonds ( EB ). By securing a stake in Hyundai Elevator, Hyundai Network also met the criteria for transition to a holding company. The value of the stake, equivalent to 18.44%, is equivalent to 302.1 billion won based on the closing price on the day. If the investment is added, it is an amount that can be converted into a holding company. Some are also raising their heads that a merger with Hyundai Elevator will be possible in the future.