The discussion room for the Hanjin knife, the holding company of the Hanjin Group, is buzzing. This is because the company’s stock price is on a downward trajectory day following day as the ‘management dispute’ is virtually over. The company’s stock price fell for eight consecutive trading days from the 29th, when the Bando Group sold Hanjin Kal, to the 7th. The market even evaluated the Hanjin Kal stock chart, which fell more than 32%, as a ‘stairway to hell’. Hoban Construction, which has a purchase price of 59,985 won per share, is also evaluated to have been bitten by this stock.
In the stock market on the 7th, Hanjin Kal finished trading at 41,110 won, down 7.74% (3,450 won) from the previous trading day. During the intraday, it fell to 44,500 won, setting a new 52-week low for four consecutive trading days from the 1st. It also closed down for eight consecutive trading days from the 29th of last month. The stock price, which reached 60,600 on the 26th of last month, fell to 41,100 won on the 7th.
As the material for disputes over management rights disappeared, institutional investors started selling intensively. Bando Group sold 15.75% (10,751,000 shares) of Hanjin Kal’s stake held at the end of last month to domestic and foreign companies such as LX Pantos (3.83% of stake sold) and Delta Air Lines (1.68%) for club deals (over-the-counter or following-hours transactions by collecting only a small number of institutions). was sold in the form of a transaction to sell shares in The remaining stake held by Bando Group is 0.99%.
The stake in Hanjin Kal held by Chairman Cho and friendly shareholders is close to 50%. Currently, the stakes of Chairman Cho (5.78%) and related parties are 18.73%. If the shares of friendly shareholders such as Korea Development Bank (10.49%), Delta Air Lines (14.78%), LX Pantos (3.83%) and Naver (0.99% stake) are added together, it reaches 48.82%.
In the meantime, the stake in Bando Group, which has threatened Chairman Cho’s management right, is 0.99%. Former Vice President Cho Hyun-ah, who is at odds with Chairman Cho, owns only 2.06 percent of the stake. In addition, the stake in Hoban Construction reached 16.44%. Combined, it is 19.49%, which does not pose a threat to Chairman Cho.
As the material for disputes over management rights has faded, the attractiveness of Hanjin Kal’s stock has fallen sharply, and it is evaluated that the stock price is also going down.
By Kim Ik-hwan, staff reporter lovepen@hankyung.com
