PR
Hoban E&C Co., Ltd. becomes Taihan's largest shareholder
As of May 18, the largest shareholder of Taihan changed from NI-KE Co., Ltd. to Hoban E&C Co., Ltd. As the share transfer agreement between NI-KE Co., Ltd. and Hoban E&C Co., Ltd. concluded on March 29, Hoban E&C Co., Ltd. paid the balance of the stock transaction on May 18, completing the change of the largest shareholder. Accordingly, Hoban E&C Co., Ltd. became the largest shareholder with 40% of the Taihan-issued shares.
At an extraordinary shareholders' meeting on the same day, Taihan decided to change the articles of incorporation, such as changing its English name and adding business purpose. Considering the expandability of its future business and to clarify its flagship business, Taihan decided to change its English name from Taihan Electric Wire to Taihan Cable & Solution. In order to maximize business synergy with the parent company, Taihan added housing construction and real estate development to its business purpose, while the company name in Korean and English is decided to be maintained in consideration of Taihan’s history and competitiveness in the domestic and overseas cable industry.
“By being part of the financially and business-competitive Hoban E&C Co., Ltd., we have laid the foundation for sustainable growth while maintaining a competitive edge in our cable and solutions business,” a Taihan official said. He added, "Now that the business condition has been stabilized, it's time for us to strengthen internal stability and push for changes."
