The holding company LG announced a secondary purchase of shares in LG Chem and LG Electronics.
According to the Financial Supervisory Service's electronic disclosure system (DART) on the 6th, LG submitted a transaction plan report for purchasing 150 billion won worth of LG Chem shares and 100 billion won worth of LG Electronics shares from March 6 to March 7. This corresponds to 1,175,088 shares of LG Electronics and 591,716 shares of LG Chem, based on the closing price on the 3rd.
LG noted that the purpose of the stock purchase is "to maintain stable management control and enhance revenue through equity expansion." With this stock purchase, LG's equity stake in LG Chem is expected to rise from 30.69% to 31.45%, while its stake in LG Electronics is projected to increase from 31.07% to 31.72%.
LG announced in August of last year that it would buy a total of 500 billion won worth of shares in LG Electronics and LG Chem. Subsequently, in November of last year, it purchased 150 billion won worth of LG Chem shares and 100 billion won worth of LG Electronics shares, and with this secondary purchase, LG will achieve its purchasing target.