Comprehensive Stock Exchange Completed, Hyundai Home Shopping Becomes Wholly-Owned Subsidiary and Delisting Confirmed - Full Exchange of Minority Shares Accompanied by Treasury Stock Cancellation
This report officially confirms that the comprehensive stock exchange to make Hyundai Home Shopping a wholly-owned subsidiary of Hyundai GF Holdings was completed on June 30, 2026.
The exchange ratio was set at 6.3571040 shares of Hyundai GF Holdings for each share of Hyundai Home Shopping, resulting in the full exchange of all minority-held shares into new shares of the parent.
A total of 792,396 treasury shares were cancelled, comprising 146 shares acquired through appraisal rights and 792,250 pre-existing treasury shares, improving capital efficiency.
With the exchange completion, Hyundai Home Shopping is scheduled for delisting, and minority shareholders become shareholders of Hyundai GF Holdings, simplifying the governance structure.
Financially, post-exchange equity of Hyundai Home Shopping decreased by approximately 8.9 million KRW to 1.6866 trillion KRW.
[AI Summary]This transaction is a complete subsidiary restructuring for group simplification, with forced exchange of minority shares and delisting negatively impacting shareholder liquidity. However, the voluntary cancellation of treasury shares partially offsets the negative effect.
KOSPI Filing Information
Termination Report on Merger, etc. (Comprehensive Exchange and Transfer of Shares)
Company: Hyundai Home Shopping Network (057050)
Submission: Hyundai Home Shopping Network Corporation