Hansol Chemical disclosed on the 25th that it sold 2.74% (310,000 shares) of its equity held by Chairman Cho Dong-hyeok.
The acquirer is GS Group, with the purchase price set at 55 billion won. The disposal unit price of 176,900 won is 2.67% higher than the closing price of Hansol Chemical on that day, which was 172,300 won.
With the sale of Chairman Cho's equity, the largest shareholder of Hansol Chemical changed to the National Pension Service (13.34%). Chairman Cho's equity decreased to 8.91% (1,010,000 shares).
Chairman Cho reportedly sold his held equity to repay personal debts. He has received loans of about 60 billion won from NongHyup Bank and Korea Securities Finance six times last year and this year, using his Hansol Chemical equity as collateral.
This transaction was announced a month ago. Chairman Cho had previously disclosed on the 25th of last month that he planned to proceed with this transaction to secure funding for debt repayment.