Hyundai Elevator sells Movex stake: what it means for Hyundai Elevator stock

Published on 10/20/2026 at 02:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 8.70 percent to KRW 692.8 billion in the second quarter. A 6.36 percent cancellation of Hyundai Elevator stock is set for October 30.

Shareholder returns and reporting dates

Hyundai Elevator announced a 6.36 percent treasury-share cancellation on October 16, 2026.
Second-quarter revenue increased 8.70 percent to KRW 692.8 billion.
Hyundai Elevator is scheduled to publish its next earnings report on November 18, 2026.

Hyundai Elevator, KR7017800004, Illustration mit AI erstellt.

Hyundai Elevator (ISIN KR7017800004) plans to cancel 2,487,323 treasury shares, equal to 6.36 percent of its issued stock, after a shareholder-return announcement on October 16, 2026. Seoul Economic Daily reported that the company will also sell 6.5 million Hyundai Movex shares for KRW 115.765 billion to secure funds for shareholder returns.

Asset sale funds shareholder returns

The Movex transaction gives Hyundai Elevator KRW 17,810.00 per share and reduces its stake in the subsidiary from 48.89 percent to 43.04 percent. Chosun Ilbo reported that the sale will use an after-hours block deal and that the company signed a total return swap linked to the shares. If Movex falls, the swap can create settlement costs, adding a counterweight to the shareholder-return plan.

Operating performance supplies a second pillar. According to ATS View, second-quarter revenue rose 8.70 percent year over year to KRW 692.8 billion, while operating profit reached KRW 84.5 billion and the operating margin was 12.20 percent.

Three dated steps shape the plan

In October 2025, Hyundai Elevator sold 7.8 million Hyundai Movex shares and raised KRW 76.1 billion, according to Seoul Economic Daily. In June 2026, it planned to sell an 8.00 percent stake but withdrew the plan after the subsidiary's share price fell.

On October 16, 2026, the company announced the sale of 6.5 million Movex shares and the cancellation of 2,487,323 treasury shares. The cancellation is valued at KRW 170 billion based on the October 15 closing price, as Chosun Ilbo reported.

What does the cancellation mean for ownership?

The smaller share count changes the ownership math even before any operating effect appears. Chung Ji-yi held 3.10 percent of Hyundai Elevator at the end of the second quarter, and her stake is expected to rise to about 3.30 percent after the cancellation, according to Seoul Economic Daily. The structure therefore combines cash generation, treasury-share retirement and tighter family ownership.

KRW valuation and upcoming dates

Hyundai Elevator was last at KRW 69,800.00 on KRX on October 20, 2026 at 9:11 a.m. KST. The same market snapshot put its market capitalization at KRW 2.5 trillion and its 52-week range at KRW 61,800.00 to KRW 113,400.00.

The planned treasury-share cancellation date is October 30, 2026, according to Chosun Ilbo. The next earnings report is scheduled for November 18, 2026, according to TradingView.