Major Shareholder KIM JOONYOUNG Withdraws Open Market Purchase Plan Due to Over 30% Price Decline; Limited Impact on Shareholder Value
KIM JOONYOUNG (largest shareholder of Hanchang Paper) disclosed on June 2 the cancellation of his open market purchase plan for 294,117 common shares (approx. 7.99 billion KRW) originally reported on May 18, 2026
The withdrawal reason is that the stock price fell more than 30% from the last closing price before the plan report date, which is a regulatory trigger for mandatory or voluntary cancellation
The planned purchase price was 2,720 won per share, a 44.5% premium over the current price of 1,882 won, but no actual purchase occurred
There is no change in outstanding shares, and no impact on the largest shareholder's stake or capital raising
[AI Summary]The withdrawal of the largest shareholder's open market purchase plan is due to a mechanical reason (market decline exceeding 30%) and is unrelated to substantive issues such as additional financing or management changes. Therefore, the negative impact on the stock price is limited, and it is viewed as a neutral event, as it eliminates the burden of buying at a high price.
KOSPI Filing Information
Filing: Report on Withdrawal of Transaction Plan for Specific Securities by Executives and Major Shareholders