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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] GS Retail's spin-off entity, tentatively named Parnas Holdings, has passed the preliminary review for re-listing on the stock exchange.
On the 26th, the Korea Exchange confirmed that Parnas Holdings meets the requirements for listing on the KOSPI market and is deemed eligible for re-listing.
Last month, GS Retail announced its plan to enhance shareholder and corporate value by spinning off Parnas Hotel. As a result, the company will be divided into GS Retail and the newly established Parnas Holdings. Under Parnas Holdings, which will include current GS Retail subsidiaries Parnas Hotel and the meat processing company Fresh Meat, the reorganization is set to take effect on December 26. The split ratio is GS Retail 0.8105782 and Parnas Holdings 0.1894218. The new entity is scheduled to be listed on January 16 of next year.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
