Suseong Asset Management reduces COPUS KOREA stake from 5.74% to 4.78% due to stock merge and OTC sale of convertible bonds; simple investment purpose maintained
Suseong Asset Management disclosed a reduction in its stake in COPUS KOREA from 2,732,973 shares (5.74%) to 450,939 shares (4.78%), a decrease of 0.96 percentage points, as of June 1, 2026.
The decrease resulted from COPUS KOREA's stock merge (par value from 100 KRW to 500 KRW, 5:1 ratio) proportionally reducing the number of shares held, and an OTC sale of 95,654 private placement 4th convertible bonds at a price of 2,315 KRW per share.
The OTC sale of convertible bonds at a price lower than the conversion price (6,305 KRW) suggests capital recovery rather than profit-taking, which may be interpreted as a passive investment stance by existing shareholders.
The filing purpose remains 'simple investment' with no intention of influencing management, and the filer, as a professional investor, continues to hold a 4.78% stake.
COPUS KOREA, listed on KOSDAQ, has a market cap of approximately 21.1 billion KRW, a current price of 2,355 KRW, and total outstanding shares of 8,974,830. The stock merge is a neutral event applied equally to all shareholders.
[AI Summary]The 0.96%p decrease in Suseong Asset Management's stake is a combination of the involuntary stock merge and a small OTC sale; while the absolute stake falling below 5% may raise market concerns about potential further sales, the simple investment purpose and professional investor status limit the negative impact on share price, and it is not viewed as a core shareholder exit.