This comes as a result of over 300 transactions by the California-based investment house from Sept. 27 to Dec. 12 last year.
Capital Group did not specify the reason behind the stake sell-off. The disclosure also indicated that Capital Group “will not exercise de facto influence on the management of the company.”
Hyundai Motor is the sixth-largest company by market cap on the main bourse Kospi. Its market cap came to 24.5 trillion won as of Wednesday session’s close.
By Son Ji-hyoung (email@example.com)