Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) YEON SUN HAN Journalist = Hyundai Development Company held a board meeting on Dec 5 and voted for converting to holding company structure by dividing current structure of HDC to holding company HDC(tentatively named) and HDC Hyundai Development Company(tentatively named).

The division of shares will take place in the ratio of 42 to 58 and because of equity spinoff, existing shareholders will have their shares dispersed in the same ratio in both companies.

In related to this, Hyundai Development Company said that “The decision to convert to a holding company is to improve business professionalism and maximize management efficiency by separating our business and investment bodies, a move that will boost corporate value and shareholder value.

NSP News Agency/NSP TV YEON SUN HAN Journalist, hanys4017@nspna.com
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