Shin Dong-guk will purchase Hanmi Science shares worth 172.7 billion won, disclosed after market close on the 7th. The transaction involves 3,604,799 shares through off-exchange purchases scheduled from next month's 7th to 11th, following a stock purchase agreement signed on the 6th with Hong Ji-yoon and six others. The acquisition relates to the resolution of a family ownership dispute that emerged in 2020 after Hanmi Pharmaceutical founder Im Sung-ki's death, when disagreements arose between the mother-daughter side (Song Young-sook and Im Joo-hyun) and the two sons (Im Jong-yoon and Im Jong-hoon) over inheritance tax funding, ultimately resolved through an alliance between the mother-daughter side, Ladeponse Partners, and Shin Dong-guk.
Shin Dong-guk Purchases 3.6 Million Hanmi Science Shares for 172.7 Billion Won
According to industry sources on the 8th, Shin Dong-guk disclosed after market close on the 7th that he will purchase 3,604,799 common shares of Hanmi Science through off-exchange transactions from next month's 7th to 11th. The transaction amount totals 172.7 billion won. Shin signed the stock purchase agreement on the 6th with Hong Ji-yoon and six others.
Upon completion of the transaction, Shin's ownership stake in Hanmi Science will increase from 22.88% to 28.15%. Combined with Hanyang Precision's 6.95% stake in Hanmi Science, the total reaches 34.04%.
Family Dispute Resolved Through Alliance with Ladeponse Partners and Shin Dong-guk
After Hanmi Pharmaceutical founder Im Sung-ki passed away in 2020, differing positions emerged between the mother-daughter side (Song Young-sook and Im Joo-hyun) and the eldest and second sons (Im Jong-yoon and Im Jong-hoon) during the process of securing funds for inheritance tax. The conflict reached a resolution after the mother-daughter side formed an alliance with Ladeponse Partners and Chairman Shin Dong-guk.
Im Jong-hoon Sells 2.5% Stake to Now IB Capital, Declines Shin's Acquisition Offer
On the 2nd, Im Jong-hoon, CEO of Hanmi Fine Chemical, announced the sale of 2.5% (1,709,788 shares) of his Hanmi Science stake to Now IB Capital. Im stated, "Together with my mother (Song Young-sook) and older sister (Im Joo-hyun), I will take on every role that can contribute to the company's development in order to continue my father's dream of 'pharmaceutical patriotism.'"
Chairman Shin Dong-guk proposed to acquire Im Jong-hoon's stake, but Im declined the offer. Industry observers expect potential ownership competition between the family alliance of Song Young-sook, Im Joo-hyun, and Im Jong-hoon and Chairman Shin Dong-guk's side.
FAQ
What stake in Hanmi Science did Shin Dong-guk purchase on the 7th?
Shin Dong-guk disclosed after market close on the 7th that he will purchase 3,604,799 shares of Hanmi Science worth 172.7 billion won through off-exchange transactions scheduled from next month's 7th to 11th.
Why did the Hanmi Pharmaceutical founding family have a dispute after 2020?
After founder Im Sung-ki passed away in 2020, differing positions emerged between the mother-daughter side (Song Young-sook and Im Joo-hyun) and the two sons (Im Jong-yoon and Im Jong-hoon) during the process of securing funds for inheritance tax, which was later resolved through an alliance between the mother-daughter side, Ladeponse Partners, and Shin Dong-guk.
What did Im Jong-hoon do with his Hanmi Science stake on the 2nd?
On the 2nd, Im Jong-hoon announced the sale of 2.5% (1,709,788 shares) of his Hanmi Science stake to Now IB Capital and declined Chairman Shin Dong-guk's proposal to acquire his stake.
