In today’s briefing:
- SKC Co: Announces a Share Buyback of 5% of Outstanding Shares
- Rule Changes in Disclosing the Identities of Foreign Short Sellers in Korea
- Is Kakao Cheap or Not? Actions Louder than Words
SKC Co: Announces a Share Buyback of 5% of Outstanding Shares
- On 7 October, SKC Co Ltd (011790 KS) announced that it will conduct a share buyback of 1.89 million shares, representing 5% of outstanding shares.
- We continue to maintain a Negative view of SKC Co.
- We remain concerned about lack of clear measures to protect existing minority shareholders if its major subsidiaries (such as Nexilis) complete IPOs in the next several years.
Rule Changes in Disclosing the Identities of Foreign Short Sellers in Korea
- Chairman Kim of the FSC mentioned potential rule changes in disclosing the names of short sellers at the state audit last Thursday.
- The first is to reveal the identity of short sellers who traded through a swap contract with a broker, which is currently exempt from the short-selling disclosure obligation.
- The second is to disclose the identity of investors caught in illegal short-selling activities, mostly naked short-selling and wall-crossing.
Is Kakao Cheap or Not? Actions Louder than Words
- Why KakaoBank (323410 KS) , Kakao Games Corp (293490 KS) and Kakao Pay (377300 KS) were hit recently
- Aside from the sum of the 3, why Kakao Corp (035720 KS) is getting hit further
- Are near the bottom or is there more to go?
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