Moadata Largest Shareholder Sangjin Han Increases Share Pledge Ratio to 31.37% with New Collateral Loans, Raising Financial Risk
Moadata's largest shareholder Sangjin Han and special relation Seunghwan Shin entered new share pledge and collateral agreements on July 7, 2026.
Han personally pledged 2,800,000 shares worth 1.3 billion KRW to Gyeonggyu Kim under a stock transfer collateral loan, while Shin pledged a total of 3,400,000 shares worth approximately 4.9 billion KRW to Sangsangin Savings Bank as physical collateral.
Including existing contracts, total pledged shares now stand at 11,414,000 shares, representing 31.37% of total outstanding shares. Han himself has pledged 8,014,000 out of his 8,055,913 shares, effectively placing his entire stake under collateral.
While this report reflects only changes in collateral agreements with no change in share ownership, the extremely high pledge ratio of the largest shareholder introduces significant risk of forced selling in case of stock price declines, demanding investor caution.
[AI Summary]The surge in pledge ratio to 31.37% by Moadata's largest shareholder and his special relation indicates heightened financial instability. With 99.5% of Han's personal stake pledged, a drop in stock price could trigger forced liquidation, potentially undermining management stability and shareholder value.