Hyosung Group chief sells 4.9% stake in Hyosung Heavy to US tech fund

Hyosung Group chief sells 4.9% stake in Hyosung Heavy to US tech fund

Hyosung Group Chairman Cho Hyun-joon has sold a 4.9 percent stake in Hyosung Heavy Industries to a major U.S. tech-focused investment fund, the company said Friday. Hyosung Heavy Industries said in a regulatory filing that Cho sold 456,903 shares of the company in an after-hours deal at 568,100 won ($412.5) per share. The total transaction is valued at approximately 259.6 billion won. Following the sale, Cho's ownership in the company went down …