Hyundai G.F. Holdings sets exchange ratio 1:6.357 for full Home Shopping ownership, plans 1 tn won buyback & cancellation
Stock exchange decision: Hyundai G.F. Holdings will issue 6.3571040 new shares per share of Hyundai Home Shopping to make it a wholly owned subsidiary (ratio 1:6.3571040). Exchange price based on market prices without discount: 10,004 won for parent, 63,598 won for subsidiary.
Share buyback and cancellation: To prevent dilution, Hyundai G.F. Holdings plans to buy back 1 trillion won worth of shares (500 billion at decision, 500 billion after shareholder approval) and cancel all within 2026.
Hyundai Home Shopping treasury share cancellation: Hyundai Home Shopping will cancel 792,250 existing treasury shares (profit cancellation) and 146 shares acquired from appraisal rights (record date June 26, 2026).
Dividend policy: Hyundai G.F. Holdings will maintain DPS of 2,800 won post-exchange, matching Hyundai Home Shopping's current level.
Subsequent restructuring: After the exchange, Hyundai Home Shopping will be split into a business company and an investment company, then the investment company merges with Hyundai G.F. Holdings, simplifying governance and easing holding company restrictions.
Appraisal rights: Dissenting shareholders of Hyundai Home Shopping can sell shares at 60,709 won. Actual exercise was only 146 shares, well below the 140 billion won contract termination threshold.
KOSPI Filing Information
Filing: [Correction of Description] Report on Major Matters (Decision on Stock Exchange/Transfer) (Major Management Matters of Subsidiary)