In today’s briefing:
- Insiders Selling at Ecopro BM and Kum Yang
- Nice Information Service: KRX Approves Switching Its Listing from KOSDAQ to KOSPI
Insiders Selling at Ecopro BM and Kum Yang
- Ecopro BM (247540 KS) and Kum Yang (001570 KS)’s shares are down 2.5% and 4.5%, respectively today, driven by news of insiders at these companies selling their shares.
- It is estimated that the total amount of Ecopro BM shares sold by insiders and related parties was about 20 billion won in July by more than 12 insiders/related parties.
- We are increasingly concerned about insiders selling at Ecopro BM and Kum Yang. Coupled with lofty valuations, we think there is a higher probability of downside risk on these names.
Nice Information Service: KRX Approves Switching Its Listing from KOSDAQ to KOSPI
- On 1 August, the Korea Exchange approved the transfer of listing of Nice Information Service Co (030190 KS) from KOSDAQ to KOSPI.
- Nice Information Service will also be deleted from KOSDAQ 150 index and it will be replaced by Hydro Lithium (101670 KS).
- The recent share price decline in Nice Info Service has resulted in more attractive valuations for the company.
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