Correction on Disposal of Sangsangin Savings Bank Shares: Deadline Extended, Terms Revised
- Decision to dispose of 90.1% stake (12,240,001 shares) in subsidiary Sangsangin Savings Bank for KRW 110.7 billion (based on higher of book value and sale price)
- Purpose: Comply with Financial Services Commission order to sell and secure investment funds
- Post-disposal stake: 9.99% (1,359,999 shares)
- Expected closing date extended from 2026-04-30 to 2026-08-31 (reason: change in expected disposal date)
- Revised closing conditions: If FSC approval not obtained by deadline, either party may terminate contract; if approved, closing within 5 or 30 business days after all conditions satisfied/waived
- Deposit: KRW 11.07 billion; balance: KRW 99.63 billion
- Indemnification for loan losses and securities from Sangsangin Savings Bank, and settlement of fines/forfeiture related to criminal case 2020Gohap537 to be arranged
- Collateral for indemnification: planned to provide shares in S-Innovation New Technology Fund or Synergy Innovation Co., Ltd. as first-priority unencumbered security
ADVERTISEMENT (250px+)
KOSDAQ Filing Information
- Filing: [Correction of Description] Decision on Disposal of Stocks and Equity Securities of Other Corporations
- Company: Sangsangin (038540)
- Submission: Sangsangin Co., Ltd.
- Receipt: 04-30-2026
- Under KRX KOSDAQ Market Division