Chairman & Major Shareholder Seo Seong-seok Sells 843,340 Shares (8.78%p) in Block Trades, Ownership Plunges to 13.83%, Raising Governance Concerns and Downside Pressure on Stock
Seo Seong-seok, Chairman and largest shareholder of COSMAX BTI, sold a total of 843,340 common shares (38.8% of his previous holdings) via block trades between May 20 and May 26, 2026.
The average sale price was 18,992 won per share, slightly above the closing price of 18,490 won on the report reference date (May 27).
The buyers were two entities, BJH and SSY, with equal amounts and prices. The sales were pre-planned on April 3.
As a result, Seo's stake dropped sharply from 22.61% to 13.83%, a decline of 8.78 percentage points, maintaining his position as top shareholder but raising concerns over management stability.
Such a massive insider sell-off signals potential lack of confidence and may exert downward pressure on the stock price. Investors should monitor further stake changes.
[AI Comprehensive Analysis]The block sale by the largest shareholder is likely interpreted as a lack of confidence by management, putting downside pressure on the stock in the short term. Although the off-market block deals minimized market impact, the remaining stake of only 13.83% is relatively low, leaving room for further sales and uncertainty.
KOSPI Filing Information
Filing: Report on Ownership of Specific Securities by Executives and Major Shareholders