In today’s briefing:
- End of Mandatory Lock-Up Periods for 40 Companies in Korea in August 2023
- Macquarie Korea Infra Fund Announces A Rights Offering Worth 361 Billion Won
End of Mandatory Lock-Up Periods for 40 Companies in Korea in August 2023
- We discuss the end of the mandatory lock-up periods for 40 stocks in Korea in August 2023, among which 2 are in KOSPI and 38 are in KOSDAQ.
- These 40 stocks on average could be subject to further selling pressures in August and could underperform relative to the market.
- Among these 40 stocks, the top five market cap stocks include HK inno.N, PhilEnergy, CJ CGV Co Ltd, Sure Soft Tech, and CanariaBio.
Macquarie Korea Infra Fund Announces A Rights Offering Worth 361 Billion Won
- On 28 July, Macquarie Korea Infra Fund (088980 KS) announced that it will conduct a rights offering worth 361 billion won, representing 7.4% of its current market cap.
- The major uses of funds from the rights offering include acquisition of a city gas supplier (128 billion won) and investment in Incheon-Gimpo Expressway private investment project (128 billion won).
- We have a positive view of this rights offering. We believe the acquisition of CN City Energy and the investment in Incheon-Gimpo Expressway will add additional value on the company.
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