KLC’s major shareholder changes

Korea Line’s (KLC) largest shareholder changed to Danish Lauritzen Bulkers A/S from Lee Jin-Bang, CEO of Korea Lines on October 26th.

The Danish carrier holds 765,114 shares, or a surprising 5.12%. On the other hand Mr. Lee and 13 persons, all ex-major shareholders, hold 303,659 shares, down from 17.67% to 2.03% of the company's shareholding.

Previously KLC retired 286,000 shares and reduced its 16,423,000 capital stocks by 82.1 percent.
KLC decided to convert its stock investors' debt into equity with cash payback of 40% and equity conversion 60%. <김보람 기자 brkim@ksg.co.kr>