SEOUL (dpa-AFX) - Capital Research and Management Company has steadily increased its stake in KT&G Corp. (033780.KS) over the past three months. On July 3, KT&G announced that the U.S.-based global investment management firm now holds 8.22% of its shares, acquired strictly for investment purposes.
According to disclosures filed with Korea's electronic disclosure system DART, Capital Research and Management Company owns 8.528 million shares of KT&G. This marks a significant rise in its shareholding compared to earlier filings.
Back on May 8, Capital Research and Management revealed it held 5.61% of KT&G shares. Just a month later, on June 9, it disclosed an increase to 7.21%. In the latest July filing, Capital Research confirmed the purchase of an additional 1.04 million shares, pushing its total stake to 8.22%.
033780.KS shares were trading at KRW 175,100.00, reflecting an increase of KRW 2,100.00, or 1.21%, during market hours.
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