On the 21st, Truston Asset Management, the second-largest shareholder of Taekwang Industrial, announced that it jointly holds about 5.7% of Taekwang Industrial's equity with OK Capital.
On that day, Truston Asset Management disclosed that it transferred approximately 2.33% of its equity in Taekwang Industrial to OK Capital, a subsidiary of OK Financial Group, through a block deal on the 18th. The transfer price was 1,155,000 won, resulting in Truston Asset Management's equity in Taekwang Industrial being tallied at 2.97%, while OK Capital's was recorded at 2.73%.
Truston Asset Management agreed to jointly exercise voting rights and shareholder rights regarding Taekwang Industrial with OK Financial Group in the future. The joint exercise of shareholder rights will be led by Truston Asset Management.
Meanwhile, Truston Asset Management is also in the process of undergoing provisional proceedings to prevent the issuance of exchangeable bonds (EB) worth 320 billion won based on its own shares, which was announced on the 27th of last month.
Truston said, "As a co-owner and representative reporter of Taekwang Industrial in the future, we will do our best to enhance the corporate value of Taekwang Industrial."