Ohaim Investment Union reduces stake in Joyworks&Co from 10.47% to 8.57%, selling 1.90% via OTC trades, maintaining simple investment purpose
Ohaim Investment Union reported a decrease in its stake in Joyworks&Co to 8.57%, a drop of 1.90 percentage points from the previous report. This resulted from disposing of 425,537 shares via over-the-counter sales after a 1:5 stock consolidation and a 1:3 free allotment.
The counterparty for the OTC sales was Cornerstones Co., Ltd. and the simple investment purpose remains unchanged. The sale prices were 1,011 KRW, 1,878 KRW, and 1,640 KRW respectively, mixed relative to the current price of 1,541 KRW.
This reduction in stake may be interpreted as the major shareholder's intention to cash out, potentially exerting downward pressure on the stock price in the short term. No share buyback or cancellation programs were disclosed.
[AI Summary]Ohaim Investment Union's continuous stake reduction while maintaining a simple investment purpose reconfirms non-involvement in management, but the large-scale OTC sales could weigh on the stock price. Investors should monitor potential further sales and the dilution effect from increased floating shares after the free allotment.