Hyosung Chairman Cho Hyun-jun bought off-market all shares of Hyosung Co., Ltd. held by his mother, Song Kwang-ja.
According to the Financial Supervisory Service's electronic disclosure system on the 11th, Cho on the day bought off-market all 82,929 shares (0.50% equity) held by Song. With this, Cho's share count rose to 6,949,584 shares, and his stake in Hyosung Co., Ltd. expanded from 41.02% to 41.51%.
Earlier, last month, Song also sold to Cho after hours, via a block deal, all Hyosung Chemical shares she held (23,445 shares, 0.62% equity).
The share purchase came as a prolonged legal battle continued over management control and asset partitioning between Cho and his second son, former Executive Vice President Cho Hyun-moon. Last month, Cho appeared as a witness at a trial date for former Executive Vice President Cho and former Newscom CEO Park Soo-hwan and said, "I want him punished (regarding my younger brother)."