 |
Photo = Leeno Industrial |
[Alpha Biz= Ellie Kim] Leeno Industrial CEO and largest shareholder Lee Chae-yoon has sold shares worth approximately ₩730 billion through a block deal, representing about 10% of the company’s market capitalization.
According to the company and industry sources on June 14, Lee sold 7 million shares—equivalent to 9.18% of total outstanding shares—on June 12. The transaction was valued at ₩731.5 billion, with the final price set at ₩104,500 per share, matching the closing price on the day.
The sale was completed roughly two weeks ahead of the previously disclosed sale period (May 26 to June 24), which market observers interpret as a move to eliminate uncertainty surrounding the transaction.
As of the end of December last year, Lee held 26.42 million shares (34.66% ownership). Following the deal, his remaining stake has decreased to 25.48%.
The transaction was reportedly executed at a discount of approximately 12% compared to earlier discussed pricing levels. In block deals, buyers—typically institutional investors or asset managers—generally demand a discount of around 3% to 10% to compensate for the risk of absorbing large volumes of shares at once.
Industry analysts suggest that the larger-than-usual discount reflects an effort by the controlling shareholder to accelerate the sale and mitigate potential downward pressure on the stock price, as well as broader market concerns.
Alphabiz Ellie Kim 인턴기자(press@alphabiz.co.kr)
