Lotte Insurance, Explanation of "Do not push for voluntary delisting"

[Infostock Daily= Reporter An Hoe Hyun] Lotte Insurance said on the 25th that "It is not considering the delisting", regarding whether to push for 'the largest shareholder, voluntary delisting'.

This is the answer to the inquiry announcement after a media report that Lotte Insurance, a KOSPI listed company, will voluntarily delist the company. JKL Partners, which acquired Lotte Insurance in May last year, was rumored to be planning to pursue the delisting through stock purchases, judging that there is no merit for listing on the stock market.

Normally, the voluntary delisting will be made after deliberation by the Korea Exchange(KRX) Listing Disclosure Committee. For voluntary delisting, the largest shareholder must hold more than 95% of the shares through tender or in-house purchases. Investors who do not agree to tender purchases will have unlisted shares. In the securities market, Lotte Insurance's market capitalization is 479.4 billion won as of the 24th.

Reporter An Hoe Hyun ahh@infostock.co.kr