Hyundai Glovis: if at first you don't succeed

Chung family finally get the money they need to fund succession from father to son after re-launching divestment of shares in Hyundai Glovis, raising $1.064 billion.

Hyundai Glovis: if at first you don't succeed

The heir apparent and current chairman of Korea's second biggest chaebol finally managed to divest a stake in Hyundai Glovis after Thursday's close, nearly one month after the first attempt failed.

Chairman Chung Mong-koo and his son Chung Eui-sun raised $1.064 billion after selling a 5.022 million block of shares in Hyundai Glovis at Won 230,500. This represented a 2.74% discount to the stock's Won 237,000 close and just below the mid-point of a 1.9%...

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