Capital Research increases KT&G stake to over 8%
US investor Capital Research and Management has increased its stake in South Korean tobacco company KT&G to 8.22 percent. The investor has been gradually increasing its holdings since May.
South Korean tobacco company KT&G announced on July 3 that US investor Capital Research and Management has once again increased its stake in the firm. According to the latest filings, the US investment firm now holds 8.22 percent of KT&G's shares.
Capital Research's ownership has shown a steady rise in recent months. The stake was 5.61 percent in May, grew to 7.21 percent in June, and reached the current 8.22 percent in July. The significant share purchases occurred between July 1 and July 3.
The company reported that its first-quarter performance saw growth, attributed partly to an upward global trend in cigarette consumption. KT&G has stated that it plans to announce new shareholder return schemes in the second half of the year.
As a major global tobacco manufacturer, KT&G's strategic moves and commitment to shareholder returns are closely watched by the market. The company's consistent growth and increasing institutional investor interest indicate a stable outlook in the tobacco sector.