Capital Group raises KT&G stake to 7.2%

Capital Group has upped its stake in KT&G to 7.21 percent as the latter continues to attract foreign investors.

According to KT&G’s regulatory filing on Tuesday, Capital Research and Management Company, a wholly-owned investment arm of the Capital Group, acquired about 1.6 million extra shares of KT&G as of May 29.

The additional investment came a little over three weeks after it had acquired a 5.61 percent stake in the Korean cigarette maker.

Capital Group is one of the world's largest asset ma ...