The heir apparent and current chairman of Korea's second biggest Chaebol failed to sell shares in Hyundai Glovis on Monday night in a move that should have paved the way for the succession of father to son.
Chung Eui-sun and his father Chung Mong-koo hoped to raise up to $1.25 billion by offloading a combined 13.4% stake in Hyundai Glovis, the group's logistics and shipping arm.
Chung junior hoped to sell 3.22 million shares, reducing his stake from 31.9% to 23.7%, while Chung senior hoped to sell 1.8 million shares.
The 5.02 million share deal was...
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