Capital Group Acquires 5.61% Stake in KT&G as Share Price Surpasses KRW 180,000
The Capital Group Companies, Inc. has acquired a 5.61% stake in KT&G (KRX:033780), South Korea's leading tobacco manufacturer, as its share price reached a record high of KRW 180,000. The acquisition aligns with regulatory requirements for reporting stakes over 5%, and follows a 19-day net buying streak by foreign investors, who have purchased around 800,000 shares worth approximately 140 billion KRW. KT&G also reported strong Q1 earnings, driven by growth in its overseas cigarette business.
Tickers: $BLK
Topics: Capital Group foreign investment KT&G Q1 earnings stock price