Koramco Buys 18,819 Shares of IGIS Value Plus REIT but Ownership Drops from 13.70% to 10.17% Due to Massive Capital Increase, Deepening Dilution for Existing Shareholders
The filer Koramco Housing & Urban Fund Trust Management Real Estate Investment Company, a major shareholder with over 10% stake, acquired an additional 18,819 common shares of IGIS Value Plus REIT through open market purchases from June 4 to 9, 2026, at an average price of 3,486 KRW.
However, due to a significant increase in the total outstanding shares from approximately 51.44 million to 69.45 million shares, Koramco's ownership percentage fell from 13.70% to 10.17%, a drop of 3.53 percentage points. This represents severe dilution of approximately 35% in share count, significantly impairing existing shareholder value.
The small-scale purchase by Koramco had minimal stabilizing effect on the stock price, while the massive capital increase with undisclosed purpose and terms erodes confidence. No shareholder return measures such as treasury stock acquisition or cancellation were included in this disclosure.
[AI Summary]This filing reveals that despite a major shareholder's defensive buying, the dominant event is the severe dilution from a sharp increase in shares outstanding. The lack of transparency on the use of proceeds and capital policy raises governance concerns and heightens investment risk. Existing shareholders should brace for further value erosion.
KOSPI Filing Information
Report on Ownership of Specific Securities by Executives and Major Shareholders
Company: IGIS Value Plus REIT (334890)
Submission: Koramco Housing & Urban Fund Trust Management Real Estate Investment Company