Hyundai Mipo Dockyard (HMD) has decided to sell its near-8% stake in Hyundai Robotics, in a move that could accelerate Hyundai Heavy Indistries (HHI)'s drive for a holding company structure.
HMD said in a regulatory filing it is offloading 960,540 shares in Hyundai Robotics and could raise as much as KRW 376bn ($329m).
The Hyundai Robotics shares will be sold at a price of KRW 363,750 and KRW 387,000, a discount of up to 7% to the last closing price.
