Hyundai Home Shopping to swap shares with parent at 1:6.357; to cancel 792k shares; parent to buy back 100bn won
Hyundai Home Shopping decided to exchange shares with its parent Hyundai G.F. Holdings at a ratio of 1:6.3571040, becoming a wholly-owned subsidiary and then being delisted.
Planned cancellation of 792,250 treasury shares (approx. 6.6%) as profit cancellation (record date: June 26, 2026).
Additional cancellation of 146 shares acquired through appraisal rights (same record date).
Hyundai G.F. Holdings plans to buy back and cancel a total of 100 billion won worth of treasury shares: 50 billion won at the time of the exchange decision and another 50 billion won after shareholder approval.
Hyundai G.F. Holdings intends to maintain the current dividend per share (2,800 won) by expanding dividends after the exchange.
After the exchange, a spin-off and merger with Hyundai G.F. Holdings are planned (board resolution targeted for early August 2026).
Dissenting shareholders may exercise appraisal rights at a tentative price of 60,709 won per share.
The exchange agreement may be terminated if the total appraisal payment exceeds 140 billion won for either company.
KOSPI Filing Information
Filing: [Correction of Description] Report on Major Matters (Decision on Stock Exchange and Transfer)
Company: Hyundai Home Shopping Network (057050)
Submission: Hyundai Home Shopping Network Corporation