In today’s briefing:
- End of Mandatory Lock-Up Periods for 45 Companies in Korea in June 2024
- Hot Topic Among Local Institutions in Recent Days: Utilizing COE in Value-Up Investing
End of Mandatory Lock-Up Periods for 45 Companies in Korea in June 2024
- We discuss the end of the mandatory lock-up periods for 45 stocks in Korea in June 2024, among which 5 are in KOSPI and 40 are in KOSDAQ.
- These 45 stocks on average could be subject to further selling pressures in June and could underperform relative to the market.
- The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in June include Hanwha Ocean, LS Materials, and Komico.
Hot Topic Among Local Institutions in Recent Days: Utilizing COE in Value-Up Investing
- Local institutional investors were disappointed Kiwoom omitted COE from their value-up disclosure. They seek clearer plans to address low-yield assets and reduce COE.
- Rapidly rising interest in COE among local institutional investors is now shaping the screening criteria for the Korea Exchange’s value-up index, possibly using COE as a primary factor for inclusion.
- Competition likely centers on selecting and weighting stocks, including those beyond KOSPI 200. Key metric: COE linked with ROE.
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