KAMCO Announces Public Auction of State-Owned Securities Worth 610.5 Billion KRW

Public Auction Sale via Onbid Starting September 7

[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) announced on the 24th that it will sell 610.5 billion KRW worth of national treasury securities through a public bidding process on Onbid starting from September 7.

The unlisted securities being sold this time are issued by a total of 92 corporations, including ▲28 in manufacturing ▲30 in construction ▲12 in wholesale and retail ▲6 in real estate and leasing ▲16 in other industries.

The bidding for the sale of unlisted securities will start at 100% of the expected sale price and proceed over four rounds. For items that fail twice, from the third round onward, the bidding price will be gradually reduced by 10% of the initial expected sale price each round. Items that fail more than twice may also be sold through private contracts under the conditions of the previous sale round until the day before the next bidding.

However, according to the Enforcement Decree of the National Property Act, those who have paid national taxes (such as inheritance tax, gift tax, etc.) in unlisted securities (including the person who paid and joint tax obligors) and their family members under civil law cannot purchase the relevant unlisted securities below the paid-in value.

Unit: %, shares, KRW

Bidders wishing to participate must deposit at least 5% of their bid amount into a designated virtual account through Onbid during the bidding period. If successful, they must sign the stock sale contract within 5 days from the winning date and complete full payment within 60 days.

A KAMCO official advised, "Companies such as Ace Construction Co., Ltd., Korea Steel Co., Ltd., and LSC Systems Co., Ltd. are financially sound and high-quality stocks, so actual demanders should consider showing interest."

This content was produced with the assistance of AI translation services.