[DISCLOSURE] Japan-based Taiheiyo (Pacific) Cement and TCC Holdings Labuan announced on July 26 that their stake in SsangYong Cement Industrial (003410) has dropped to 27.91 percent (25.98 million shares) from 37 percent (31.89 million shares), down 9.09 percent point.

This is mainly due to the undersubscription that triggered 5.90 million shares to be forfeited.

SsangYong Cement Industrial has issued 22.8 million shares for existing shareholders and employees for capital increase, which reached 56.22 percent subscription rate.