The Samra Midas (SM) group has built a small stake in HMM, after its wholly owned subsidiary SM Line added 613,438 shares in HMM for $14m on 29 December 2021, bringing its holdings to 2.41m shares or 0.49%. Another SM Group company, bulk carrier operator Korea Shipping holds 2.15m HMM shares, or 0.44%, bring the SM Group's total shareholdings in HMM to 0.93%. The move comes after SM Line ditched plans to raise up to KRW 846 Bn ($722m) from an initial public offering (IPO) on 3 November 2021. SM