Seung-Han Kim, Chief Executive Officer at Hanchang Paper Co., Ltd. and other buyers acquired 8.78% stake in Hanchang Paper Co., Ltd. from Shinhan Bank, Seoul Guarantee Insurance Company Ltd., and Korea Technology Credit Guarantee Fund for KRW 3.3 billion.
July 13, 2014
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Seung-Han Kim, Chief Executive Officer at Hanchang Paper Co., Ltd. and other buyers acquired 8.78% stake in Hanchang Paper Co., Ltd. (KOSE:A009460) from Shinhan Bank, Seoul Guarantee Insurance Company Ltd., and Korea Technology Credit Guarantee Fund for KRW 3.3 billion in cash on July 9, 2014. Under the terms of the transaction, Shinhan Bank, Seoul Guarantee Insurance Company Ltd., and Korea Technology Credit Guarantee Fund collectively sold 8.91% stake and post closing holds 5.24 million shares.
Shinhan Bank sold approximately 2.1 million shares of Hanchang Paper Co., Ltd. for KRW 627 per share to Seung-Han Kim. Post transaction, Shinhan Bank will hold approximately 2.1 million shares representing 3.56% stake. Korea Technology Credit Guarantee Fund sold approximately 1.37 million shares of Hanchang Paper Co., Ltd. for KRW 627 per share. Post transaction, Korea Technology Credit Guarantee Fund will hold approximately 1.37 million shares representing 2.33% stake. Seoul Guarantee Insurance Company Ltd. sold approximately 1.77 million shares of Hanchang Paper Co., Ltd. for KRW 627 per share. Post transaction, Seoul Guarantee Insurance Company Ltd. will hold approximately 1.77 million shares representing 3.01% stake.
Seung-Han Kim, Chief Executive Officer at Hanchang Paper Co., Ltd. and other buyers completed the acquisition of 8.78% stake in Hanchang Paper Co., Ltd. (KOSE:A009460) from Shinhan Bank, Seoul Guarantee Insurance Company Ltd., and Korea Technology Credit Guarantee Fund on July 9, 2014.
Hanchang Paper co., Ltd. is a Korea-based company principally engaged in the manufacture and distribution of white duplex boards. The Companyâs products consist of high quality deluxe art boards; duplex boards, including duplex boards with white backs, duplex boards with gray backs and uncoated duplex boards, as well as functional white paperboards including anion papers, yellow ocher papers and jade papers. Its duplex boards are mainly used for cosmetics, high-end clothing, medicine, stationery packaging boxes and others. Its functional white paperboards are mainly used for childrenâs goods, fruit boxes, confectionary boxes, calendars, book covers and others. The Company distributes the products within domestic market and to overseas markets.
Seung-Han Kim, Chief Executive Officer at Hanchang Paper Co., Ltd. and other buyers acquired 8.78% stake in Hanchang Paper Co., Ltd. from Shinhan Bank, Seoul Guarantee Insurance Company Ltd., and Korea Technology Credit Guarantee Fund for KRW 3.3 billion.
HANCHANGPAPER CO., LTD 
