KAMCO Announces Public Auction of State-Owned Securities Worth 275.1 Billion KRW

[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 23rd that it will sell 275.1 billion KRW worth of state-owned securities, which were announced for bidding, through Onbid starting from the 6th of next month via a public bidding method.

The issuing corporations of the unlisted securities being sold this time include a total of 61 corporations: 18 in construction, 20 in manufacturing, 2 in real estate and leasing, 7 in wholesale and retail, and 14 in other industries. Among them, Beomju Shipping, Seonjin Logistics, and Korea Steel are stocks with stable profitability and sound financial conditions, making them worth the attention of actual buyers.

The bidding for the sale of these unlisted securities will be conducted in four rounds starting at 100% of the expected sale price. For items that fail to sell by the second round, the bidding from the third round onward will proceed with a stepwise reduction of 10% of the initial expected sale price each round. However, for some items, bidding will be conducted over a total of six rounds, and for items that fail more than twice, private contracts are also possible until the day before the next bid under the conditions of the previous round’s sale.

According to the Enforcement Decree of the State Property Act, persons who have paid national taxes (such as inheritance tax, gift tax, etc.) in unlisted securities and their family members under civil law cannot purchase the corresponding unlisted securities below the payment amount.

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

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