[Alpha Biz= Kim Jisun] Yanolja has become the second-largest shareholder of Modetour by acquiring 5.26% of its shares.
According to a filing on the electronic disclosure system on Wednesday, Yanolja, which held 4.5% of Modetour's shares as of the end of June last year, recently increased its stake to 5.26% through market purchases.
Some analysts speculate that Yanolja might be considering acquiring control of Modetour, as the largest shareholder, Chairman Woo Jong-woong, holds only 10.92% of the company. The recent promotion of Woo's eldest son, Woo Jun-yeol, to president is also seen by some as a move to defend management control.
However, Yanolja clarified that the additional share acquisition is purely for investment purposes.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
