Lotte Chairman Sells $8.4 Million in Lotte Shopping Shares

118,180 Shares Sold on the Open Market Over Three Days

Finance|
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By Lee Yong-sungutility@sedaily.com
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Lotte Group Chairman Shin Dong-bin. Photo courtesy of Lotte Group - Seoul Economic Daily Finance News from South Korea
Lotte Group Chairman Shin Dong-bin. Photo courtesy of Lotte Group

Lotte Group Chairman Dong-bin Shin sold about 12.2 billion won ($8.4 million) worth of Lotte Shopping (023530) shares on the open market.

Shin sold 118,180 Lotte Shopping shares over three days — on the 28th and 31st of last month and on the 1st — according to a regulatory filing with the Financial Supervisory Service's electronic disclosure system.

The sales reduce Shin's holdings in Lotte Shopping to 2,774,869 shares from 2,893,049 shares. His stake falls to 9.81% from 10.23%. The chairman sold the shares to secure cash liquidity.

Shin disclosed last month that he planned to sell 324,100 Lotte Shopping shares, or 1.15% of the company. The sale price was set at 130,400 won per share, for a total of 42.26 billion won. After the sale, Shin's stake would fall to 9.08% from 10.23%.

#LotteShopping#LotteGroup#ShareSale#KoreanStocks#Disclosure

Companies in this story

Lotte Shopping
023530.KS · Consumer
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Original reporting by Lee Yong-sung for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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