Hyundai Motor share prices slip after HHI block deal

[THE INVESTOR] Hyundai Motor shares fell on June 30 following the news of a block deal by Hyundai Heavy Industries and Hyundai Samho Heavy Industries on the previous day.

On June 30, Hyundai Motor closed 2.52 percent lower at 135,500 won (US$ 117.5).

Hyundai Motor’s automotive affiliates Kia Motors and Hyundai Mobis also closed lower.

Kia shares closed at 43,200 won, down 1.37 percent, while Hyundai Mobis closed at 252,000 won, down 2.51 percent.

Hyundai Heavy and Hyundai Samho sold 1.24 million and about 419,000 shares, respectively, of Hyundai Motor after market close on June 29. The deals are part of Hyundai Heavy’s normalization plans. Hyundai Heavy had held 0.56 percent and Hyundai Samho 0.19 percent stake in the country’s largest carmaker.

By Choi He-suk (cheesuk@heraldcorp.com)