On the morning of the 29th, Hanwha Ocean's stock price is down in the 10% range. The increase in selling pressure is interpreted as a result of the news that Korea Development Bank plans to sell its shares in Hanwha Ocean.
As of 9:16 a.m. on the 29th, Hanwha Ocean is being traded at 78,900 won, down 10,400 won (11.65%) from the previous trading day.
The selling pressure is believed to have increased due to the news that Korea Development Bank is preparing to sell its equity in Hanwha Ocean.
According to financial sources, Korea Development Bank began demand forecasting to sell its equity in Hanwha Ocean through a block deal (large-scale trading outside regular hours) on the 28th.
Korea Development Bank currently holds a 19.5% equity stake (59,738,211 shares) in Hanwha Ocean. Within the financial sector, estimates place the quantity of shares to be sold by Korea Development Bank at around 13 million. The exact amount is expected to be confirmed after the demand forecasting.