Business · Markets · 3 hrs ago
Hanjin KAL shares jump as ownership contest with Hoban intensifies
Hanjin KAL shares rose sharply in South Korea on Nov.
3 amid a renewed contest over ownership of the company.
Hoban Group has reportedly bought enough shares to exceed the 20.57% stake held by Cho Won-tae and related parties.
Cho, chairman of Hanjin Group, announced a plan to buy 325,000 Hanjin KAL common shares for 37.05 billion won through block trades.
If completed, the purchases would raise his stake with related parties to 21.06% from 20.57%.
Hanjin Group said Cho's plan was unrelated to Hoban's moves, though industry observers viewed it as a response.
The contest matters because Hanjin KAL is Hanjin Group's holding company, and changing stakes could affect who has influence over it.
Hoban has filed a business-combination report and is awaiting a decision, while Cho's planned purchases are scheduled from Dec.
3 through Jan.
1, 2027.
Hanjin KAL shares rose in early trading on November 3 amid renewed competition for stakes between Hanjin Group chairman Cho Won-tae and Hoban Group.
At 9:25 a.m., Hanjin KAL was up 12.69% at 151,900 won, while its preferred shares had risen 29.83% to the daily limit.
Cho disclosed a plan to buy 325,000 common shares for 37.05 billion won through block trades.
If completed, the purchase would raise Cho and related parties’ stake from 20.57% to 21.06%.
Hoban is reported to have accumulated a stake exceeding Cho and related parties’ 20.57%, though the articles do not give its exact holding.
- Who
- Hanjin KAL, Hanjin Group chairman Cho Won-tae, and Hoban Group.
- What
- Hanjin KAL shares rose as Cho and Hoban were reported to be competing for stakes. Cho disclosed a planned purchase of 325,000 common shares.
- When
- November 3, 2026, in early trading; Cho disclosed the purchase plan the previous day.
- Where
- Hanjin KAL shares were trading on the South Korean stock market.
- Why
- Investors reacted to reports of renewed competition for influence over Hanjin KAL.
Cho Won-tae
Hoban Group
Stakeholding
Cho Won-tae
Cho plans to buy 325,000 additional common shares; if completed, his stake with related parties would rise to 21.06%.
Hoban Group
Hoban is reported to have bought additional shares and may have exceeded Cho and related parties’ previous 20.57% stake.
Purpose or next steps
Cho Won-tae
Hanjin Group said Cho’s move was unrelated to Hoban’s activity and described the purchase as intended to strengthen responsible management.
Hoban Group
Hoban reportedly filed a business combination report and is awaiting a result; its longer-term aims are unclear.
Hoban reportedly filed a business combination report after its stake may have exceeded Cho and related parties’ holding.
Cho disclosed plans to buy 325,000 Hanjin KAL common shares for 37.05 billion won.
Hanjin KAL was up 7.12% at 144,400 won in early trading, according to Hankyung.
Hanjin KAL was up 12.69% at 151,900 won, and its preferred shares had reached the daily price limit, according to Maeil Business.
- Cho's planned purchase
- 325,000 common shares
- Purchase value
- 37.05 billion won
- Cho and related parties' stake after completion
- 21.06%, up from 20.57%
- Hanjin KAL price at 9:25 a.m. on November 3
- 151,900 won, up 12.69%
- Hanjin KAL preferred shares at 9:25 a.m.
- Up 29.83%, at the daily price limit
What people are saying
unrelated to Hoban's moves