Eco Prime Marine Pacific maintains 48.89% stake in HJ Shipbuilding, pledges 35% for 100 billion won loan
Eco Prime Marine Pacific Co., Ltd. reported that while maintaining its 48.89% stake in HJ Shipbuilding & Construction, it pledged 31,601,292 shares equivalent to 35% of total outstanding shares as collateral to a lender group including Shinhan Investment Corp. and obtained a 100 billion won loan.
The pledge agreement was signed on July 1, 2026, with interest rates of 6.53% fixed for Tranche A and 6.42% floating initial for Tranche B. No maintenance margin ratio was disclosed.
The filer stated its purpose is to maintain management influence over HJ Shipbuilding, but the substantial pledge introduces potential risks such as margin calls or forced liquidation if the stock price declines.
[AI Summary]This change report shows no change in share count, but the largest shareholder pledging 35% of its stake indicates increased financial leverage and potential liquidity risk. The high interest rates and undisclosed maintenance ratio add uncertainty for investors.