Corporate Logo(source: lsholdings.com)
LS(006260) saw its stock surge nearly 12% in early trading, following news that Hoban Group has acquired a stake in the company, amid ongoing legal battles between LS Cable & System and Taihan Cable & Solution(001440).
As of 9:56 AM on March 13, LS was trading at 110,500 won, a 12% increase from the previous session.
The surge followed reports that Hoban Group had acquired less than 3% of LS shares. The group clarified that the purchase was a simple investment based on the growth potential of the wire and cable industry. The stake held by Hoban Group is still under 5%, meaning it is not subject to public disclosure requirements. LS Cable & System is a non-listed company, with its parent company LS holding a 92.3% stake.
The news has drawn attention, as LS Cable & Systems and Taihan Cable & Solution, both subsidiaries of Hoban Group, have been involved in a long-running dispute since 2019, including lawsuits over patent infringement and the leakage of undersea cable technology. If Hoban Group increases its stake to over 3%, it could potentially exercise rights to inspect company records and challenge unlawful actions by directors.
There is speculation that this development could escalate the ongoing technical disputes between Taihan Cable & Solution and LS Cable & System into a broader corporate confrontation.
*[KOSPI]LS(006260) is a holding company of LS Group, divided into Cable & System, Electric, Mtron, MnM, and I&D business division. Market capitalization is 3.278 trillion won(as of March 12, 2025, closing price).
*[KOSPI]Taihan Cable & Solution(001440) is a comprehensive cable company that produces and sells products such as high-voltage cables, materials, telecommunication cables, and conducts various cable-related construction projects. The market capitalization is 2.2262 trillion won(as of March 12, 2025, closing price).
Corporate Logo(source: lsholdings.com)
LS(006260) saw its stock surge nearly 12% in early trading, following news that Hoban Group has acquired a stake in the company, amid ongoing legal battles between LS Cable & System and Taihan Cable & Solution(001440).
As of 9:56 AM on March 13, LS was trading at 110,500 won, a 12% increase from the previous session.
The surge followed reports that Hoban Group had acquired less than 3% of LS shares. The group clarified that the purchase was a simple investment based on the growth potential of the wire and cable industry. The stake held by Hoban Group is still under 5%, meaning it is not subject to public disclosure requirements. LS Cable & System is a non-listed company, with its parent company LS holding a 92.3% stake.
The news has drawn attention, as LS Cable & Systems and Taihan Cable & Solution, both subsidiaries of Hoban Group, have been involved in a long-running dispute since 2019, including lawsuits over patent infringement and the leakage of undersea cable technology. If Hoban Group increases its stake to over 3%, it could potentially exercise rights to inspect company records and challenge unlawful actions by directors.
There is speculation that this development could escalate the ongoing technical disputes between Taihan Cable & Solution and LS Cable & System into a broader corporate confrontation.
*[KOSPI]LS(006260) is a holding company of LS Group, divided into Cable & System, Electric, Mtron, MnM, and I&D business division. Market capitalization is 3.278 trillion won(as of March 12, 2025, closing price).
*[KOSPI]Taihan Cable & Solution(001440) is a comprehensive cable company that produces and sells products such as high-voltage cables, materials, telecommunication cables, and conducts various cable-related construction projects. The market capitalization is 2.2262 trillion won(as of March 12, 2025, closing price).