EUGENE Corporation increases stake in TONGYANG Inc. to 33.87% after treasury stock cancellation and stock split
EUGENE Corporation, as the largest shareholder of TONGYANG Inc., reported a stake increase to 33.87% as of July 16, 2026, up 3.54%p from the previous report. This change is due to participation in a capital increase, treasury stock cancellation, a 2:1 stock split, and some trading by specially related parties.
TONGYANG cancelled 24,611,979 treasury shares on June 9, 2026, and conducted a 2:1 stock split on July 7, reducing total outstanding voting shares to 107,628,637. EUGENE acquired 170,000 shares at 7,420 won via a third-party allotment and purchased 800,000 shares at 551 won on the open market.
EUGENE pledged 12,000,000 shares to Kookmin Bank for a 15 billion won loan at 4.77% interest, and its affiliate Hyundai Development pledged 1,360,334 shares to Daishin Securities for a 950 million won loan at 5.10% interest.
[AI Summary]This disclosure confirms EUGENE's strengthened control and capital restructuring. The cancellation of treasury shares and stock split reduce total shares outstanding, benefiting per-share metrics, but the significant pledged shares indicate leverage. The overall impact is neutral to mildly positive.