[THE INVESTOR] Hyundai Securities disclosed on June 23 that it will sell 16.71 million of its own shares to KB Financial Group in a regulatory filing.
Following the sale, valued at 107.1 billion won (US$93.4 million), KB Financial Group‘s stakes in Hyundai Securities will rise to 29.62 percent. KB Financial Group is Hyundai Securities‘ largest shareholder.
The sale is set to be concluded on June 24.
Hyundai Securities said that the sale date was brought forward from Aug. 29 following US Financial Industry Regulatory Authority’s approval.
