SeAH Holdings family sells $26mn worth of shares

[Courtesy of SeAH Holdings Corp.]

SeAH Holdings Corp. announced on Monday that Chairman Lee Soon-hyung and Vice Chairman Park Ui-sook have sold a combined 372,000 shares, equivalent to 9.3 percent of the entire stake, through off-hours transactions.

Lee and Park each sold 186,000 shares on April 25.

Considering the selling price of 96,000 won ($70) per share, the transaction amounts to 35.7 billion won.

The divestment of shares has reduced the ownership held by the Lee family, including SeAH Holdings CEO Lee Tae-sung, to 80.68 percent from 89.98 percent.

Chairman Lee retained 160,241 shares (4.01 percent), while Vice Chairman Park retained 239,872 shares (6.00 percent).

The company noted that the sale is part of efforts to enhance the corporate governance structure in line with the value-up program.