DB Insurance becomes Daol Investment’s No.2 shareholder

Quick Summary:

The block deal could signal a potential takeover bid for Dal Investment & Securities, leaving it vulnerable to management disputes with its top shareholder and Chairman Lee Byung-chul, industry observers warn.Lee holds a 25.18% stake in Daol Investment & Securities.

DB Insurance Co., a leading South Korean non-life insurance company, has become Daol Investment & Securities Co.'s second-largest shareholder after purchasing a 9.73% stake in the small-sized brokerage firm.

DB Insurance said in a regulatory filing on Monday that it has bought the stake from its existing No.2 shareholder Kim Ki-soo, head of Presto Investment Advisory, in a block deal for 23.1 billion won ($16.3 million).

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Article Details

Category: Economy

Markets: South Korea

Topics: Securities Insurer Daol Insurance Korean Industry Shareholder Investment Deal Stake Block

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-22 @ 14:55:15 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 243 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 15 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 28134753

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