Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) covers the month of July 2004. The report discloses a material corporate action involving Woori Bank, a wholly-owned subsidiary of the registrant.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics for the reporting period. The document focuses exclusively on a specific asset disposition transaction.
| Metric | Value |
|---|---|
| Sale Amount | 79,320,000,000 Won |
| Shares Sold | 12,000,000 shares |
| Outstanding Shares (Pre-Sale) | 53,838,858 shares |
| Outstanding Shares (Post-Sale) | 41,838,858 shares |
| Expected Closing Date | August 13, 2004 |
Material Changes
On July 22, 2004, the board of directors of Woori Bank passed a resolution to dispose of a portion of its holdings in Hynix Semiconductor to a third party. This transaction reduces the subsidiary's stake in Hynix Semiconductor by approximately 22.3% (from 53.8 million to 41.8 million shares).
Outlook, Risks, and Management Commentary
Management notes that the transaction structure may be subject to further changes. The filing does not contain forward-looking guidance, general risk factors, or commentary on the company's overall strategic outlook beyond this specific divestiture.
Investor Verification Checklist
- Confirm the final closing date of the Hynix Semiconductor share sale (expected August 13, 2004).
- Verify the final sale price per share and total proceeds received.
- Check for any subsequent filings regarding changes to the transaction structure.
- Review the impact of this divestiture on Woori Bank's consolidated financial statements in the next quarterly or annual report.