Lotte Group Chairman Shin Dong-bin injected 1.1 billion won of his own money into Lotte E&C, which is suffering from financial difficulties.
Lotte E&C announced the change in stock holdings of the largest shareholder following the capital increase on the 19th the previous day.
On the 19th of this month, Chairman Shin acquired 9,772 common shares of Lotte E&C for 1.17 billion won.
As a result, Lotte E&C shares held by Chairman Shin increased from 188,660 shares to 198,432 shares, and the stake is the same at 0.59%.
Lotte E&C announced on the 18th of this month that it would raise 178.2 billion won in operating funds through a paid-in capital increase of 1,485,450 common stocks.
This is a follow-up measure following the announcement on the 18th of last month that it would issue a paid-in capital increase of 200 billion won.
Chairman Shin holds shares in Lotte Chemical and Hotel Lotte, which are shareholders of Lotte E&C.
Lotte affiliates also participated in the paid-in capital increase, Lotte Chemical acquired 729,874 common shares of Lotte E&C for KRW 87.57 billion, and Hotel Lotte acquired 717,859 shares of Lotte E&C common shares for 86.13 billion won. I bought it for 5.9 million won.
Lotte Holdings also purchased 27,894 shares of common stock and supported 3.347 billion won.
Lotte E&C is currently experiencing a liquidity crisis due to the bankruptcy of Legoland and is receiving financial support from affiliates.
CEO Ha Seok-joo announced his intention to resign four months before his term of office.