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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Global long-term investor Capital Group has increased its stake in KT&G, signaling confidence in the company’s fundamentals.
KT&G announced on June 9 that Capital Group, through its subsidiary Capital Research and Management Company, acquired a 7.21% stake for investment purposes.
According to regulatory filings, the firm now holds approximately 7.49 million shares of KT&G. This marks an increase from its previously disclosed 5.61% stake on May 8.
Capital Group, which manages approximately $3.3 trillion in assets, is known for its long-term investment approach.
Other major foreign shareholders holding more than 5% stakes in KT&G include BlackRock, First Eagle Investment Management, and Government of Singapore Investment Corporation.
The increased ownership by global institutional investors is widely interpreted as a vote of confidence in KT&G’s competitive positioning and long-term growth prospects.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
